AT&T Appoints Daniel E. Somers As Chief Financial Officer.NEW YORK--(BUSINESS WIRE)--April 30, 1997--AT&T today announced the appointment of Daniel E. Somers as senior executive vice president and chief financial officer, effective in mid-May. Somers, chairman and chief executive officer of Bell Cablemedia, plc, of London, succeeds Richard Miller Richard Miller may be:
Somers, 49, will direct AT&T's financial strategy and organization. He will report to AT&T Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert E. Allen and become a member of the chairman's office, which includes Allen, President and COO John Walter
John Walter (1738/9 - November 17, 1812), founder of , and Senior Executive Vice President of Corporate Affairs John Zeglis. Somers will work closely with the AT&T board of directors on all financial matters and serve as management's liaison with the board's financial and audit committees. "Dan's broad skills and accomplishments make him ideally suited for the CFO See Chief Financial Officer. role at this pivotal point in AT&T's history," said Allen. "An outstanding financial executive who also has an operations background, Dan brings valuable experience in the international telecommunications industry and competitive consumer businesses." Somers has been chairman and CEO of Bell Cablemedia, one of the largest cable communications companies in the U.K., since 1995. Prior to joining Bell Cablemedia, Somers was executive vice president and CFO for Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for International, Inc., from 1992 to 1995. Before joining Bell Canada, he held a number of financial and operating-management positions, including four years as CFO of IMASCO Limited, a Canadian consumer products company, and five years in other financial leadership positions with that company. In addition, Somers spent eight years as a Wall Street investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. and financial analyst. As chairman and CEO of Bell Cablemedia, Somers led the creation of London's largest cable provider, merging the interests of Videotron, NYNEX NYNEX New York-New England & X for the Unknown (Telephone Company) NYNEX New York Network Exchange Cablecomms, Mercury and Bell Cablemedia into a new entity, Cable & Wireless Communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , which will provide integrated telecommunications, information and entertainment services in the U.K. The new company was successfully launched on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. on Monday, April 28, valued at 4.5 billion pounds ( $7.3 billion). Somers, who has a BS degree in finance from Stonehill College Stonehill College is a private Roman Catholic college located in North Easton, Massachusetts, United States, founded in 1948. Situated in North Easton, Massachusetts, a suburban community of 23,329 people, Stonehill is located just 22 miles south of Boston on a 375-acre campus, , North Easton, Mass., was born in Detroit and grew up in Connecticut. Based in Montreal for much of his career, Somers and his family have lived in London for the last two years. He and his wife, Mary Jane, have five children. -0- DANIEL E. SOMERS SENIOR EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER - AT&T As senior executive vice president and chief financial officer for AT&T, Daniel E. Somers, 49, will be responsible for the company's financial strategy, policy and operations. He will work closely with the AT&T board of directors on all financial matters and serve as management's liaison with the board's financial and audit committees. Mr. Somers will also be a member of the Chairman's Office, which includes AT&T's chairman, president and senior executive vice president of corporate affairs. Prior to joining AT&T, Mr. Somers was chairman and CEO of Bell Cablemedia, plc, of London for two years, which is one of the largest cable communications companies in the U.K. He recently led the creation of a new entity, Cable & Wireless Communications, the U.K.'s leading provider of integrated telecommunications, information and entertainment services, having merged the interests of Videotron, NYNEX Cablecomms, Mercury and Bell Cablemedia. For three years, from 1992 to 1995, Mr. Somers was executive vice president and CFO for Bell Canada International, Inc., which was a new international venture when he joined it. He was instrumental in leading the company's global investment program, which allowed it to grow to over $2 billion in invested capital in this period with a focus on ventures in Europe, the U.K., Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Mexico and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . Before joining Bell Canada, Mr. Somers held a number of senior executive, financial and operating-management positions, including four years as president of Radio Atlantic Holdings Ltd., a communications company in Nova Scotia. He spent a total of eleven years at Imasco Ltd., a Canadian consumer products company in Montreal, and its Hardee's restaurant subsidiary in Rocky Mount, N.C., including four as CFO of Imasco and five as CFO of Hardees. Mr. Somers also has eight years experience as a Wall Street investment banker and financial analyst. A native of Detroit, Mich., Mr. Somers grew up in Connecticut and holds a BS degree in finance from Stonehill College in North Easton, Mass. He serves on the boards of BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Cable Ltd., BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International International Holdings Ltd., Bell Cablemedia, plc, and Videotron Holdings Ltd. Based in Montreal for much of his career, Mr. Somers and his family have lived in London for the past two years. He and his wife, Mary Jane, have five children. April 1997 CONTACT: AT&T Adele Ambrose 908-221-6900 (office) 908-953-9102 (home) or Eileen M. Connolly 908-221-6731 (office) 914-361-4615 (home) or Bell Cablemedia Denise Lewis, Director of Corporate Affairs 44-171-967-3968 (office) 44-181-878-0645 (home) |
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