IDT Carmel Holdings Appoints Collections Industry Veterans
September 04 2008 - 4:45PM
Business Wire
IDT Carmel Holdings, Inc., a subsidiary of IDT Corporation (NYSE:
IDT; IDT.C) today announced its new management team including
leading debt collection and portfolio executives. The IDT Carmel
management team will be headed by President and COO Mark
Meisenbacher. Mr. Meisenbacher is a twenty year industry veteran
who previously served as COO of Axiant. He also served as a senior
executive at Wolpoff & Abramson, a top collection law firm and
debt buyer. �Consumer debt collection is a challenging business
that rewards superior customer research and analytics. We have put
together a world-class management team and are continuing to refine
our analytical platform and collections methodologies. In short
order, we will be fully prepared to find and capitalize on
opportunities in the rapidly evolving consumer debt collections
market,� Mr. Meisenbacher said. Andrea Gale also joined the company
and will serve as VP, Marketing & Portfolio Servicing leading
the company�s portfolio acquisitions and sales as well
portfolio/client services. She brings over 10 years of experience
within the financial services industry including work for US Bank,
Collect America, and PRS. Other senior Executives including General
Counsel & EVP, Menachem Ash and EVP M&A / Corporate &
Business Development, Jay Barsky, are continuing in their existing
roles with the company. Steve Brown, who has been named Chairman of
IDT Carmel, will direct the management team. Mr. Brown was the
Chairman and President of IDT Entertainment, a subsidiary of IDT
Corporation, until its sale to Liberty Media for total
consideration exceeding $450 million. �We are fortunate to have
attracted some of the most highly regarded executives in the
industry to join the IDT Carmel team. They are top-notch people who
bring a wealth of experience and savvy to our business. These
appointments solidify our commitment to becoming a leader in the
ARM industry,� Brown concluded. About IDT Carmel: Formed in 2005,
IDT Carmel manages primarily consumer receivables portfolios and
collections operations. About IDT Corporation: IDT Corporation
(www.idt.net) is a multinational holding company with subsidiaries
spanning several industries including: IDT Telecom, which provides
telecommunications services to consumers and businesses, including
prepaid and rechargeable calling cards, local, long distance and
wireless phone services, wholesale carrier services, and a range of
voice over Internet protocol (VoIP) communications services; IDT
Energy (www.idtenergy.com), which operates an Energy Services
Company (ESCO) in New York State; IDT Carmel, which manages
receivables portfolios and collections; Zedge (www.zedge.net),
which provides a web-based, worldwide destination for free,
user-generated mobile content distribution and sharing; American
Shale Oil Corporation (AMSO) (www.amso.net), which manages IDT's
U.S. oil shale research and development initiative, and IDT
Capital, whose portfolio of companies includes IDT Spectrum
(www.idtspectrum.com), CTM Media Group (www.ctmmediagroup.com), and
IDW Publishing (www.idwpublishing.com). IDT Corporation's Class B
Common Stock and Common Stock trade on the New York Stock Exchange
under the ticker symbols IDT and IDT.C, respectively. In this press
release, all statements that are not purely about historical facts,
including, but not limited to, those with the words �believe,�
�anticipate,� �expect,� �plan,� �intend,� �estimate,� �target� and
similar expressions, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements and risk factors included in this
document are made as of the date hereof, based on information
available to IDT as of the date thereof, and IDT assumes no
obligation to update any forward-looking statements or risk
factors.
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