IDT Corporation Announces Management Changes
Friday January 4, 4:02 pm ET
NEWARK, N.J.--(BUSINESS WIRE)--IDT Corporation (NYSE: IDT - News, IDT.C - News) today announced that Stephen R. Brown and Marc J. Oppenheimer are swapping portfolios in IDT’s management team. Mr. Brown is returning to his IDT roots as Chief Financial Officer (CFO) and Treasurer. Mr. Oppenheimer is bringing his operational discipline and prior experience to serve as IDT’s Chief Operating Officer (COO), and will focus on the company’s expanding operations in the energy sphere. In addition, Bill Pereira, who has served as Senior Vice President of Corporate since 2006, has been promoted to Executive Vice President (EVP) of Finance. Liore Alroy, Chief Executive Officer of Net2Phone since 2004, has been appointed as EVP of IDT Corporation.
“From time to time, we tap Steve Brown’s talents to guide the development of new ventures, but at the end of the day, we always seem to want him back as our CFO,” said Howard Jonas, IDT’s Chairman and Founder. “On many occasions, I have praised Steve’s capabilities as CFO, and once again we want him in that role as we continue to navigate our way through uncharted waters. Marc Oppenheimer will bring his strategic expertise to the COO post and we look forward to his guiding hand on our diverse operations—particularly our investments in energy.”
“We have seen Marc’s abilities up close as a board member at both IDT and Net2Phone, as our lead independent director and most recently as our CFO,” said Jim Courter, IDT’s Vice Chairman and Chief Executive Officer. “He can manage diverse operations and provide the discipline necessary for each of our division’s management teams to contribute to the overall mission and growth of IDT. Steve has been a great resource to IDT and its shareholders and we look forward to having him at our financial helm once again. As we deal with troubled times at some of our mature businesses and seek to expand other operations, we believe that having Steve and Marc in these respective roles is the best combination of talents for creation of long-term value.” |
