Arbinet Names Robert S. Vaters Chief Financial Officer.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 17, 2000 Leading B-to-B Telecom Exchange Names Communications Industry Veteran to CFO See Chief Financial Officer. Position as Part of Continuing Senior Management Build Out Arbinet Communications, Inc. -- the world's premiere exchange for trading and delivering telecommunications capacity -- announced today that Robert S. Vaters has been named Executive Vice President and Chief Financial Officer. Prior to joining Arbinet, Mr. Vaters served as Executive Vice President of Finance and Administration and Chief Financial Officer of Premiere Technologies (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PTEK PTEK Parents and Teachers of Explosive Kids ), a $450 million global supplier of enhanced communications services with over 2,300 employees worldwide. "We are very excited to have someone of Bob Vaters' caliber join Arbinet's growing senior management team," stated Anthony Craig, Arbinet's 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. . "Bob has an extremely strong international telecom background in both sales and operations in addition to his experience as a public company CFO. This unique combination of skills will be invaluable in helping to drive Arbinet's continued growth in the months and years to come." At Premiere, prior to becoming CFO, Mr. Vaters served as Managing Director for Asia Pacific where he was responsible for all activities of this $75 million division with 400 employees in Hong Kong, Japan, Singapore, Australia, Korea, Taiwan, Malaysia, Indonesia, 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 its acquisition by Premiere, Mr. Vaters served as Executive Vice President, Finance & Administration and CFO of Xpedite Systems (NASDAQ: XPED Xped XPEDITER (Compuware) XPED X-Ray Photoelectron Diffractometry ), a provider of enhanced fax services with operations in 15 countries. Prior to Xpedite, Mr. Vaters served as Senior Vice President and Treasurer of Young & Rubicam (NYSE NYSE See: New York Stock Exchange : YNR), a $1.5 billion marketing and communication company with operations in 76 countries. Mr. Vaters was also a board member of Rockford Industries, a Nasdaq-traded company based in California, that was recently acquired by American Express. Commenting on his new position, Mr. Vaters responded, "I am tremendously excited to be joining Tony (Anthony Craig, Arbinet Chairman and CEO) and his team at Arbinet. Our goal of creating a truly liquid market for bandwidth will accelerate the revolution in the global communications industry that started with deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and has been fueled by the explosion of the Internet. This is an opportunity to be part of transforming one of the world's largest and most important industries." Mr. Vaters' appointment to CFO follows last month's appointment of Anthony Craig as Arbinet's new Chairman and CEO and the completion of Arbinet's second-round private equity financing in which the company raised $30.45 million from leading investors including JP Morgan, Chase Capital, BancBoston Ventures, ComVentures, Bedrock Capital, and Internet Capital Group (NASDAQ: ICGE). About Arbinet The Arbinet Global Clearing Network(TM) (AGCN(TM)) provides telephone service providers with real-time authentication, risk authorization, least cost routing A feature of a telephone system that automatically connects an outgoing telephone call with the telephone service that costs the least to that location at that time of day. Depending on how it is programmed, least cost routing will either drop down to the second most-efficient service if , call placement, and settlement, on a transaction-by-transaction basis --allowing carriers to access the best rates and routing options without having to negotiate, contract, and interconnect separately with each supplier. AGCN members post for sale or purchase any capacity to any destination worldwide and attach specific parameters to define the quality conditions under which such trades are authorized. The AGCN then automatically matches available routes on a call-by-call basis, assuring carriers the lowest prices and highest quality available on the spot market. Arbinet is presently clearing and settling minutes for all types of communications companies including Internet Telephony service providers (communications) Internet Telephony Service Providers - (ITSP) Companies providing IP Telephony. and a growing number of the world's major carriers. Founded in 1994, the company is headquartered alongside NASDAQ at 33 Whitehall Street in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with satellite offices in Florida, Tokyo and Hong Kong. (www.arbinet.com) Arbinet Global Clearing Network and AGCN are trademarks of Arbinet Communications, Inc. All other trademarks are the property of their respective owners. |
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