NEW YORK, Nov. 5, 2019 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM) today announced that the
Company has appointed Laura W.
Thomas as Interim Chief Financial Officer, effective
November 1, 2019. Laura will succeed
Ted O'Donnell whose status with the
company is under review.
Ms. Thomas brings over 30 years of experience in the
telecommunications industry, including assisting large and small
organizations through significant operational challenges and
upholding corporate governance and transparency among stakeholders.
Ms. Thomas currently serves as Chairman of the Board of Directors
of Delta Dental of Virginia and is
a member of the National Association of Corporate Directors (NACD).
Previously, Ms. Thomas served as Chief Financial Officer of
Towerstream, a leading fixed wireless Internet provider in the U.S.
In this role, she implemented a strategy to re-capitalize the
company and institute key financial controls. Prior to that, she
served as Chairman of the Board of Directors of Impact Telecom, a
leading provider of voice and messaging solutions for businesses
and carriers. In this role, she provided leadership to the
company's management team focused on implementing strategic
initiatives and increasing enterprise value. Ms. Thomas also served
as CEO of TNCI, a national telecommunications provider, and has
held various leadership roles at XO Communications.
"We are thrilled to welcome Laura to Pareteum as we continue to
strengthen our management team," said Hal
Turner, Executive Chairman and CEO of Pareteum. "Laura's
proven track record of operational leadership and financial
controls expertise will guide Pareteum as we prepare for the next
phase of the company's growth. We continue to see strong customer
demand for our platform and are intently focused on improving our
internal processes and moving the company forward to capitalize on
significant global opportunities for Pareteum."
About Pareteum Corporation: Millions of people and
devices are connected around the world using Pareteum's Global
Cloud Communications Platform, enhancing their mobile experience.
Pareteum unleashes the power of applications and mobile services,
bringing secure, ubiquitous, scalable, and seamlessly available
voice, video, SMS/text messaging, and data, media and content
enablement to our customers, making worldwide communications
services easily and economically accessible to everyone. By
harnessing the value of our cloud communications platform, Pareteum
serves enterprises, communications service providers, early stage
innovators, developers, IoT, and telecommunications infrastructure
providers. Pareteum envisions a new mobile communications
experience, imagining what is to come, while delivering now.
Pareteum currently has offices in North
America, South America,
Spain, Bahrain, Singapore, India, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements: Certain statements
contained herein constitute "forward-looking statements" as defined
by the Private Securities Litigation Reform Act of 1995. Such
statements may include, without limitation, statements with respect
to Pareteum's plans and objectives, projections, expectations and
intentions. These forward-looking statements are based on current
expectations, estimates and projections about Pareteum's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of Pareteum may differ materially from the
results expressed or implied by such forward-looking statements.
These risks include, among other things (1) the ability to complete
Pareteum's restatement of its previously issued
consolidated financial statements as of and for the full
year ended December 31, 2018, and interim periods
ended March 31, 2019 and June 30, 2019 and
address any material weaknesses, the timing of the completion of
necessary restatements, interim reviews and audits by the Company's
independent registered public accounting firm, (2) risks relating
to the substantial costs and diversion of personnel's attention and
resources deployed to address the restatement of the affected
financial statements and internal control matters, (3) the
risk of litigation or regulatory action arising from the
restatement of the affected financial statements, (4) the timing of
the review by, and the conclusions of, the Company's independent
auditor regarding the restatement, (5) the ability of the Company
to remediate any material weaknesses in internal control over
financial reporting, (6) potential reputational damage that the
Company may suffer as a result of the restatement of the affected
financial statements, (7) the impact of the restatement of the
affected financial statements on the value of the Company's common
stock, and (8) the risk that the filing of the restatement of the
affected financial statements will take longer than anticipated.
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. Unless
otherwise required by law, Pareteum also disclaims any obligation
to update its view of any such risks or uncertainties or to
announce publicly the result of any revisions to the
forward-looking statements made here. Additional information
concerning certain risks and uncertainties that could cause actual
results to differ materially from those projected or suggested in
Pareteum's filings with the Securities and Exchange Commission,
copies of which are available from the SEC or may be obtained upon
request from Pareteum Corporation.
Pareteum Investor Relations Contacts:
+1 650 232 4238
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SOURCE Pareteum Corporation