IDT Corporation (NYSE: IDT, IDT.C) announced today that Liore Alroy has
been named CEO of IDT Telecom as part of broader restructuring program
designed to cut costs and achieve profitability.
Prior to today‘s appointment, Mr. Alroy served
as an Executive Vice President and as Chairman of the Executive
Committee of the Company. Since 2004, he has been the Chief Executive
Officer of Net2Phone Inc., an affiliate of the Company that was fully
acquired in 2006. Mr. Alroy joined IDT in 2001.
“I am delighted that Liore will be taking the
helm of our telecom business. He has been a leader in the VOIP industry,
and is ideally suited to identify and execute on opportunities created
by emerging technologies,“ said Jim Courter,
“I look forward to taking on the new
challenges at Telecom,“ said Mr. Alroy. “I
will be working energetically to maximize shareholder value by
leveraging our considerable telecommunications expertise and assets.“
Mr. Alroy will replace Motti Lichtenstein, who also served as IDT‘s
Executive Vice President for Telecom. Mr. Lichtenstein is leaving to
pursue other business opportunities.
As part of its restructuring and cost reduction program, the Company
also announced that Marc J. Oppenheimer will step down as Chief
Operating Officer of IDT. Mr. Oppenheimer will be working with the
company to ensure a smooth transition of his duties to other members of
the IDT management team.
“I want to thank Motti and Marc for the
important contributions they have rendered to IDT,“
said Jim Courter. “Motti has been with us for
many years and was instrumental in building IDT Telecom, as well as
making many meaningful contributions to IDT as a whole. Marc has been
with IDT as a director of Net2Phone and then IDT Corporation, as our
lead independent director and most recently as a member of management.
He has brought important changes to IDT and helped set us back on the
path to profitability. I‘m grateful for the
valuable contributions both men have made to the company, and wish them
all the best in their future endeavors.“
About IDT Corporation
Corporation is an innovative and opportunity seeking multinational
holding company with operations that span several 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 subsidiary
American Shale Oil Corporation (AMSO) manages IDT‘s
oil shale ventures. 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, 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.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.