Further management changes:
biz.yahoo.com
Thursday September 30, 12:34 pm Eastern Time
Company Press Release
SOURCE: FlashNet Communications, Inc.
FlashNet Chairman Steps Down and New COO Joins Team
Chairman Lee Thurburn Announces Departure; Management Changes Position Company for Future Growth
FORT WORTH, Texas, Sept. 30 /PRNewswire/ -- FlashNet Communications, Inc. (Nasdaq: FLAS - news) today announced that Lee Thurburn, a co-founder of FlashNet, has officially stepped down as Chairman of the FlashNet Board of Directors to start a new Internet venture. Thurburn, who stepped down as chief executive last month, will remain a FlashNet director. The company intends to announce a new Board Chairman in the fourth quarter.
As a part of this announcement, FlashNet also trumpeted the appointment of Russell Wiseman to chief operating officer. ``Russ Wiseman brings several years of operating experience to FlashNet from such companies as PrimeCo Personal Communications and NYNEX. I am excited to have him on our team, and I am confident that he will be a key player in helping to execute the company's strategic plan,' said FlashNet Chief Executive Officer and Director Scott Leslie.
As described in its initial S-1 filing, FlashNet will sharpen its focus on small and medium sized businesses, while at the same time continuing to aggressively grow its residential base. To clarify recent press reports, Leslie said, ``We are seeking to boost average revenue per subscriber and accelerate our move to profitability with business services, however we will continue to primarily target the residential dial-up business, leveraging past successes such as our 'Free PC' offer.'
FlashNet's goal is to become a leading provider of high-value Internet services to consumers and small-to-medium sized businesses. As part of this strategy, the company intends to deliver a full complement of Web hosting, e-commerce, communications and applications services designed to bring the power and efficiency of the Internet to small businesses. Concurrently, the company intends to become a leading provider of high speed access through its Digital Subscriber Line (DSL) service, with the commercial launch of its first DSL market, Dallas-Ft. Worth, scheduled for the fourth quarter.
FlashNet has grown to become one of the largest Internet Service Providers (ISPs) in the nation, with approximately 220,000 subscribers as of June 30, 1999, and service accessible by more than 80 percent of the U.S. population. FlashNet seeks to provide best-in-class service and customer support for its access, communications and content customers.
``The past four years have been tremendously rewarding for me, watching FlashNet grow from being just a dream into a leading ISP for both consumers and small businesses,' said Thurburn. ``The time is right for me to do something different, and FlashNet's solid management team is well prepared to lead this company to the next level.'
FlashNet Communications, based in Fort Worth, Texas, is one of the largest Internet service providers in the United States, serving consumer and small- business customers nationwide. An early pioneer of unlimited use, flat-rate pricing, FlashNet broke new ground in the industry with its free PC offer while continuing to be a leader in providing a safe Internet service for families, businesses and schools. For more information, visit FlashNet's Web site at www.flash.net or call 1-888-FLASHNET.
SOURCE: FlashNet Communications, Inc. |
