Inteliquent Announces Changes to Its Management Team
September 20 2012 - 4:05PM
Inteliquenttm (Nasdaq:IQNT), a leading provider of global
interconnection and interoperability solutions, today announced
certain changes to its management team.
Surendra Saboo, the Company's President and Chief Operating
Officer, informed the Company of his decision to step down as
President and Chief Operating Officer effective October 1, 2012. In
addition, Robert M. Junkroski, the Company's Chief Financial
Officer, informed the Company of his decision to step down as Chief
Financial Officer effective October 1, 2012. It is anticipated that
Dr. Saboo and Mr. Junkroski will remain employed with the Company
until November 1, 2012 to assist with the transition of their
responsibilities. The Company's Board of Directors is currently
identifying Mr. Junkroski's successor as the Company's Chief
Financial Officer. The Company's Board of Directors is not
currently planning to hire a successor to fill Dr. Saboo's
positions.
"On behalf of the Company and its Board of Directors, I would
like to sincerely thank both Surendra and Rob for their many
outstanding contributions to Inteliquent," said Jim Hynes, Founder
and Chairman of Inteliquent. "We have been fortunate to have their
guidance and direction at the core of our organization for many
years. Going forward, we remain committed to building on the
foundation laid by Surendra and Rob by continuing our efforts to
invest in developing and diversifying our product and service
offerings on the path to long-term growth and value creation."
"It has been a privilege to work for Inteliquent alongside such
a talented team," said Dr. Saboo. "I would like to thank all of our
employees who have worked hard to transform Inteliquent from a U.S.
voice interconnection company into a global IP‑based network
service company."
"I have had the pleasure of working for this Company since its
inception in 2003," said Mr. Junkroski. "Along the way, we have
developed a number of innovative solutions to solve complex
problems across our industry. Like Surendra, I want to thank
all of our employees for their tremendous efforts over the
years."
Cautions Concerning Forward-Looking
Statements
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements, other
than statements of historical fact, included in this press release
regarding our strategy, future operations, future financial
position, future revenues, projected costs, prospects, plans and
objectives of management are forward-looking statements. The words
"anticipates," "believes," "efforts," "expects," "estimates,"
"projects," "proposed," "plans," "intends," "may," "will," "would,"
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward‑looking statements we make. Factors that might cause
such differences include, but are not limited to: the effects of
competition, including direct connects, and downward pricing
pressure resulting from such competition; our regular review of
strategic alternatives; the impact of current and future
regulation, including intercarrier compensation reform enacted by
the Federal Communications Commission; the risks associated with
our ability to successfully develop and market new services, many
of which are beyond our control and all of which could delay or
negatively affect our ability to offer or market new services; the
risk that our business and the Tinet business will not be
integrated successfully; technological developments; the ability to
obtain and protect intellectual property rights; the impact of
current or future litigation; the potential impact of any future
acquisitions, mergers or divestitures; natural or man-made
disasters; the ability to attract, develop and retain executives
and other qualified employees; changes in general economic or
market conditions, including currency fluctuations; financing
facilities and related availability and terms; changes in our
capital structure, including but not limited to the reduction of
our cash balance and the substantial incurrence of indebtedness and
related interest expense that will occur if we complete the
previously announced proposed special one-time cash dividend
transaction; whether the conditions to the proposed special
one-time cash dividend will be satisfied, including but not limited
to market conditions and whether we will obtain debt financing
under terms and conditions that are acceptable to us; whether the
special one-time cash dividend transaction will occur on the terms
previously proposed or at all, and the timing of such transaction;
and other important factors included in our reports filed with the
Securities and Exchange Commission, particularly in the "Risk
Factors" section of our Annual Report on Form 10-K for the period
ended December 31, 2011, as such Risk Factors may be updated from
time to time in subsequent reports. Furthermore, such
forward-looking statements speak only as of the date of this press
release. We undertake no obligation to update any forward-looking
statements to reflect events or circumstances after the date of
such statements.
About Inteliquent
Headquartered in Chicago, Inteliquent (operating under the legal
names Neutral Tandem, Inc. and Tinet S.p.A. or the name of the
applicable affiliate) provides intelligent networking to solve
challenging interconnection and interoperability issues on a global
scale. With an advanced MPLS network that is highly
interconnected to carriers around the world, Inteliquent provides
voice, IP Transit, Ethernet and hosted service solutions to major
carriers, service providers and content management firms based in
over 80 countries and six continents. With over 120 Ethernet
sites worldwide, the Company is the largest global Ethernet
interconnection provider, a top-five global IP Transit provider and
has a leading IPv6 network. Please visit Inteliquent's website at
www.inteliquent.com and follow us on Twitter@Inteliquent.
The Inteliquent logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3797
CONTACT: Media Contact:
Jaymie Scotto & Associates
1-866-695-3629
pr@jaymiescotto.com
Investor Contact:
Inteliquent
Jim Polson
1-866-268-4744
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