IDT Corporation (NYSE: IDT, IDT.C) 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.“
About IDT Corporation
Corporation is an innovative and opportunity seeking multinational
holding company with operations that span various industries. Through
its Telecom subsidiary, IDT provides telecommunications services
worldwide to the retail and wholesale markets. IDT Energy operates an
Energy Services Company (ESCO) in New York State. IDT’s Capital division
incubates newer businesses, and the Company’s Spectrum subsidiary holds
its spectrum license assets. IDT Telecom provides retail and wholesale
telecommunications services and products, including pre-paid and
rechargeable calling cards, consumer local, long distance, and wireless
phone services, and wholesale carrier services. Under the Net2Phone
brand name, the Company also provides a range of voice over Internet
protocol (VoIP) communications services. IDT Capital’s operations
include receivables portfolio management and collection, ethnic food
distribution, brochure distribution, Internet Mobile Group, Net2Phone
Ventures and other initiatives. 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.
In this press release, all statements that are not purely about
historical facts, including, but not limited to, those with 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. These risks and
uncertainties include, but are certainly not limited to the specific
risks and uncertainties discussed in our reports filed with the SEC. All
forward-looking statements and risk factors included in this document
are made as of the date hereof, based on information available to IDT as
of the date thereof, and IDT assumes no obligation to update any
forward-looking statements or risk factors.