Robert J. Amman Named Chairman, President and CEO of Global TeleSystems, Inc.Business Editors/Hi-Tech Writers LONDON--(BUSINESS WIRE)--Sept. 19, 2000 Global TeleSystems, Inc. (GTS GTS abbr. gas turbine ship ) (NYSE NYSE See: New York Stock Exchange : GTS; Easdaq: GTSG; Frankfurt: GTS), the leading provider of e*Business and borderless broadband services across Europe, today announced that Robert J. Amman has been named Chairman, President and Chief Executive Officer of the company after the resignation of H. Brian Thompson Brian Thompson may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the company since March, 1999, and a director of the company since May, 1998. Commenting on the announcement, Thompson noted that, "Over the past 18 months, Bob and I have successfully completed the initial objective set out for us by the Board - to transform GTS from a loosely structured, emerging market telecom holding company into a single, integrated pan-European operating company operating company A business that engages in transactions with outsiders. . We are convinced that the next phase of the company's growth and success requires that we appoint an experienced hands-on 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. who will lead the company from its headquarters in Europe. Bob is uniquely qualified to undertake this challenge." Amman noted, "During the past 18 months we have transformed the scale, product breadth, and market focus of the company. In the first two quarters of 2000 we have met consensus analyst estimates and we expect to meet consensus analyst estimates for Q3 and Q4 2000. Additionally, the company expects to be 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 positive in the first quarter of 2001. Based on current plans, which include a $500 million cash capital program for 2001, we anticipate that we will require approximately $250 million of additional financing to be fully-funded through 2001, and we have retained Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. to explore financing alternatives." About Robert J. Amman - Robert J. Amman has a proven track record as a hands-on, turnaround and build executive. His career, which started at Bell Telephone Laboratories, has been spent in the data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , telecommunications and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries. In 1987, Mr. Amman managed an $850 million recapitilization of Western Union Corporation concurrent with Western Union's acquisition of ITT ITT Initial Teacher Training (UK) ITT I Think That ITT Invitation To Tender ITT Individual Time Trial (professional cycling) ITT Intention-To-Treat ITT In This Thread (forums) Worldcom. Following the recapitilization, which included $500 million of new financing, Amman became the President and Chief Executive Officer of Western Union and led the transformation of the firm from an unprofitable asset-intensive, domestic telecommunications company See telecom company. to a highly profitable, marketing-driven, international consumer financial services company. In 1994, he engineered the sale of Western Union to First Financial Management Corporation ("FFMC FFMC Freshwater Fish Marketing Corporation (Canadian government) FFMC Federal Financial Managers Council FFMC Florida Federation of Music Clubs FFMC Fulwood Free Methodist Church (Lancashire, United Kingdom) "). At FFMC he managed the Western Union, NaBanco, Telecheck, Nationwide Credit and International Banking Technologies subsidiaries as Vice-Chairman and Chief Operating Officer until the sale of FFMC to First Data Corporation in 1995. From 1995-1998, he was Chairman, President and Chief Executive Officer of John H. Harland Company, the printing services and database marketing firm. About GTS (www.gtsgroup.com) Global TeleSystems, Inc., is the leading provider of e*Business and borderless broadband services across Europe, serving businesses and carriers with a range of broadband, hosting, Internet/IP and voice services. As an industry leader in Europe, the company has the largest cross-border fiber optic network; the largest Tier-1 IP backbone (GTS Ebone); the most widely deployed pan-European e*Business sales and service staff; and the largest pan-European customer base. GTS's first and most extensive trans-European broadband fiber network includes on-net points of presence in 38 European cities (50 cities planned) and stretches across 17,500 route kilometres (25,000 route kilometres planned) with six city enterprise networks (CENs) (16 CENs planned), providing intra-city bandwidth. GTS is also developing an advanced trans-Atlantic dual-cable system in a joint venture with FLAG Telecom. The company has its European operating headquarters office in London; additional corporate offices in Washington, D.C., Brussels and Cork, Ireland; and sales and service operations in 20 countries. This press release may include forward-looking statements that involve risk and uncertainty. Although the company believes its expectations reflected in such forward-looking statements are based on reasonable assumptions, no assurance can be given that such projections will be fulfilled. Any such forward-looking statement must be considered along with knowledge that actual events or results may vary materially from such predictions due to, among other things, political, economic or legal changes in the markets in which GTS does business; competitive developments; or risks inherent in the company's business plan. Readers are referred to the documents filed by GTS with the U.S. Securities and Exchange Commission, specifically the most recent reports filed under the Securities Exchange Act of 1934 and registration statements filed pursuant to the Securities Act of 1933, which identify important risk factors. |
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