IDT Corporation Appoints the Hon. Leon Panetta and Leo Hindery, Jr. to Board of IDT Telecom; Former White House Chief of Staff and the Chairman and CEO of the YES Network
Business Wire - March 18, 2004 08:00
NEWARK, N.J., Mar 18, 2004 (BUSINESS WIRE) -- IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, today announced that the Hon. Leon E. Panetta, former White House Chief of Staff, and Leo Hindery, Jr., the Chairman and CEO of The YES Network, have been appointed to the Board of Directors of IDT Telecom. IDT Telecom is IDT's largest operating division, offering retail and wholesale telecommunication services.
"The appointment of Leon Panetta and Leo Hindery brings additional leadership and world class experience to the IDT Telecom Board," said Jim Courter, IDT's Vice Chairman and CEO. "As we seize new opportunities in the rapidly evolving global telecommunications marketplace and build on our successes, we look to the expertise of Leon and Leo, individuals widely acknowledged for their integrity and acumen, to help chart our course."
Mr. Panetta served as the Director of the Office of Management and Budget for the Clinton administration. Later, he was appointed Chief of Staff to President Clinton and served in that position until January 20, 1997. He was widely praised for bringing order and focus to the White House operations and policy making. Mr. Panetta served eight terms in the United States House of Representatives. He left Congress in his ninth term to head the OMB. Among many other activities, Mr. Panetta currently co-directs, with his wife Sylvia, the Leon and Sylvia Panetta Institute for Public Policy, which serves as a non-partisan study center for the advancement of public policy.
Mr. Hindery is the Chairman and CEO of The YES Network, a premier regional sports network he helped form in 2001, around, primarily, the broadcast rights of the New York Yankees and the New Jersey Nets. Mr. Hindery previously served as the President and Chief Executive Officer of AT&T Broadband. AT&T Broadband, which encompassed all of AT&T's domestic video, local telephony and data service operations, was formed out of the March 1999 merger of Tele-Communications, Inc. into AT&T. At the time of the merger, Mr. Hindery was the President of TCI, then the world's largest cable television distribution and programming company. TCI was named the second "most admired" telecommunications company by Fortune magazine.
IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.
IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.
Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in IDT's most recent report on SEC Form 10-K (under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.
SOURCE: IDT Corporation
IDT Corporation
Gil Nielsen, 973-438-3553
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amtdrt.inlumen.com
Finally a couple "Honorable Appointments"! <g>
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