Back to press releases

IDT Corporation Appoints Liore Alroy CEO of IDT Telecom and Announces Other Management Changes

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 todays 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 IDTs

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. Im 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 IDTs

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.