GTECH Names Walter DeSocio Senior Vice President, General Counsel, and Corporate Secretary
January 06 2005 - 11:00AM
PR Newswire (US)
GTECH Names Walter DeSocio Senior Vice President, General Counsel,
and Corporate Secretary WEST GREENWICH, R.I., Jan. 6
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that Walter G. DeSocio has joined the Company as
Senior Vice President, General Counsel, and Corporate Secretary.
Reporting to W. Bruce Turner, GTECH President and Chief Executive
Officer, DeSocio is responsible for managing and overseeing all
legal matters for the Company. As part of these efforts, DeSocio
also serves as Corporate Secretary to GTECH's Board of Directors.
"We consider ourselves fortunate to add such a talented,
multi-faceted business attorney to our senior management team,"
said Mr. Turner. "Walter is a great addition and brings a solid
background in corporate governance, compliance, and Sarbanes-Oxley
regulations. His proven leadership and extensive legal and business
expertise will be important factors in achieving our strategic
business objectives." DeSocio most recently served as Chief
Administrative Officer, General Counsel, and Corporate Secretary at
Internap Network Services Corporation, the leading provider of
intelligent routing services over the Internet, where he was
responsible for the company's corporate administration, human
resources, and legal and regulatory activities, and played an
instrumental role in the development and execution of Internap's
strategic imperatives. Prior to joining Internap, DeSocio was
General Counsel and Senior Vice President of Regulatory Affairs at
Concert B.V., the multi-billion dollar global communications
business owned by AT&T and BT Group. Previous to that, DeSocio
was AT&T's Chief Regional Counsel for Europe, Middle East, and
Africa, with legal responsibility for all of AT&T's
international business activity outside of the U.S. DeSocio earned
his Bachelor of Arts degree in Political Science from Colgate
University, his Juris Doctor from New York Law School, and an LL.M.
degree with valedictory honors from Cambridge University (Corpus
Christi College) in England. Certain statements contained in this
press release are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The Company identifies
forward-looking statements by words such as "may," "will,"
"should," "could," "expect," "plan," "anticipate," "intend,"
"believe," "estimate," "continue," or similar words that refer to
the future. Such statements include, without limitation, statements
relating to the prospects and financial outlook for the Company,
which reflect management assumptions regarding: (i) the future
prospects for and stability of the lottery industry and other
businesses in which the Company is engaged or expects to be
engaged, (ii) the future operating and financial performance of the
Company (including, without limitation, expected future growth in
revenues, profit margins and earnings per share), and (iii) the
ability of the Company to retain existing business and to obtain
and retain new business. Such forward-looking statements reflect
management's assessment based on information currently available,
but are not guarantees and are subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated in the forward- looking statements. These risks and
uncertainties include, but are not limited to, those set forth
above, in the Company's subsequent press releases and on reports by
the Company on Forms 10-K, 10-Q and 8-K, and other reports and
filings with the Securities and Exchange Commission, as well as
risks and uncertainties respecting: (i) the potential impact of
extensive and evolving government regulations upon the Company's
business; (ii) the ability of the Company to continue to retain and
extend its existing contracts and win new contracts; (iii) the
possibility of slower than expected growth or declines in sales of
lottery and gaming goods and services by the Company or the
Company's customers; (iv) exposure to foreign currency
fluctuations; (v) risks and uncertainties inherent in doing
business in foreign jurisdictions; (vi) the relatively large
percentage of the Company's revenues attributable to a relatively
small number of the Company's customers; (vii) the possibility of
significant fluctuation of quarterly operating results; (viii) the
intensity of competition in the lottery and gaming industries; (ix)
the possibility of substantial penalties under and/or termination
of the Company's contracts; (x) the ability of the Company to
respond to technological change and to satisfy the future
technological demands of its customers; (xi) opposition to
expansion of lottery and gaming; (xii) the Company's ability to
attract and retain key employees; and (xiii) the possibility of
adverse determinations in pending legal proceedings. GTECH, a
leading global information technology company with over $1 billion
in revenues and more than 5,400 people in over 50 countries,
provides software, networks, and professional services that power
high-performance, transaction processing solutions. The Company's
core market is the lottery industry, with a growing presence in
commercial gaming technology and financial services transaction
processing. For more information about the Company, please visit
GTECH's website at http://www.gtech.com/. Contact: Robert K.
Vincent Public Affairs GTECH Corporation 401-392-7452 DATASOURCE:
GTECH Holdings Corporation CONTACT: Robert K. Vincent, Public
Affairs of GTECH Corporation, +1-401-392-7452 Web site:
http://www.gtech.com/
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