John P. Prinner Named CEO of Utilicom Networks.Business Editors FRANKLIN, Mass.--(BUSINESS WIRE)--Jan. 20, 2003 The Board of Directors of Utilicom Networks LLC has named John P. Prinner as the company's 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. . Prinner joined Utilicom as its CFO See Chief Financial Officer. in February of 2001, and was named its President in July of that year. Under Prinner's guidance, Utilicom has become a leading provider of bundled communications and entertainment services and its operating subsidiary SIGECOM, LLC, located in Evansville, Indiana. Consequently, SIGECOM has achieved six consecutive quarters of positive EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become and is rapidly approaching cash flow positive. Bret D. Pearlman, Senior Managing Director of The Blackstone Group and a Utilicom Director said, "We are pleased to announce John's promotion. He has clearly demonstrated all the qualities of a CEO in his tenure at the Company and has been instrumental in its recent success. We look forward to his continued leadership at Utilicom". Prinner, a resident of Winchester, has over a decade of experience in broadband communications. Prior to joining Utilicom he was a founder and CFO of Independent Wireless One (IWO), a Sprint PCS affiliate with an operating territory encompassing a population of 6.2 million people in the Northeast. He also served as Vice President of Wireless Operations at Southern New England Telecommunications Southern New England Telecommunications Corporation started operations in 1986 as the holding company for The Southern New England Telephone Company. Prior to 1986, The Southern New England Telephone Company had been a minority holding of AT&T until February 1986, when AT&T (SNET) where he played a key role in developing product strategies for their converged communications products. Mr. Prinner, who started his career at PriceWaterhouseCoopers, is a CPA and a graduate of the University of Connecticut The University of Connecticut is the State of Connecticut's land-grant university. It was founded in 1881 and serves more than 27,000 students on its six campuses, including more than 9,000 graduate students in multiple programs. UConn's main campus is in Storrs, Connecticut. . About Utilicom Utilicom is a facilities-based Broadband Service Provider An ISP, telephone company, cable company or other carrier that offers high-speed communications to homes and businesses, typically for Internet access. Cable modems, DSL and T1 lines are the common technologies. See broadband, cable modem, DSL and T1. that builds and operates advanced networks offering bundled digital Cable TV, High-Speed Internet, Local and Long Distance Telephone services to homes and businesses. Web: http://www.utilicomnetworks.com. |
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