Centennial Communications CFO Peter W. Chehayl Plans Departure.Business Editors WALL, N.J.--(BUSINESS WIRE)--June 13, 2002 Centennial Communications Centennial Communications (NASDAQ: CYCL) and its subsidiaries (Centennial Wireless (U.S.), Centennial Dominicana and Centennial de Puerto Rico) provide wireless and broadband telecommunications services to wireless telephone subscribers in the United States, Puerto Rico, the Corp. (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 : CYCL), announced today that Peter W. Chehayl, senior vice president, chief financial officer and treasurer, plans to leave the Company to pursue other interests, effective August 30, 2002. He will continue to serve in his current capacity until that date or until a replacement is named. "Mr. Chehayl's leadership and financial expertise were instrumental to Centennial's rapid growth and success since the leveraged recapitalization Leveraged Recapitalization A strategy where a company takes on significant additional debt with the purpose of either paying a large dividend or repurchasing shares. The result is a far more financially leveraged company. Notes: This is often used in risk arbitrage. of the Company in January 1999," said Michael J. Small, chief executive officer. "On behalf of the entire Centennial management team, I thank Pete for his contributions and wish him the best success." Mr. Chehayl joined Centennial in January 1999. Previously he was vice president and treasurer for 360 Communications Company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. from 1996 to 1998, and vice president-capital markets for Sprint Corporation from 1991 to 1996. Mr. Chehayl has a masters degree in business administration from the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. and is a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. . Centennial is one of the largest independent wireless telecommunications service providers in the United States and the Caribbean with approximately 18.5 million Net Pops and 882,600 wireless subscribers. Centennial's U.S. operations have approximately 6.0 million Net Pops in small cities and rural areas. Centennial's Caribbean integrated communications operation owns and operates wireless licenses for approximately 12.4 million Net Pops in Puerto Rico, the Dominican Republic, Jamaica and the U.S. Virgin Islands, and provides voice, data, video and Internet services on broadband networks in the region. Welsh, Carson, Anderson & Stowe and an affiliate of The Blackstone Group are controlling shareholders of Centennial. For more information regarding Centennial, please visit our website at www.centennialcom.com. |
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