Telegroup Promotes Eric E. Stakland To Head International Retail
Ronald L. Jackenthal Promoted To Lead Global Carrier Services
FAIRFIELD, Iowa--(BUSINESS WIRE)--March 24, 1998-- Telegroup Inc. (Nasdaq: TGRP - news), a leading global provider of international telecommunications services, today announced the promotion of Eric E. Stakland to serve as Vice President for International Marketing and Operations. In his new position, Mr. Stakland will be the company's key executive responsible for the growth of Telegroup's international retail customer base.
Previously, Eric Stakland was Vice President--Global Carrier Services at Telegroup. He assumes the responsibilities of Ronald B. Stakland, currently Senior Vice President of International Marketing and Operations, who has announced his retirement from the company.
Steven J. Baumgartner, President and Chief Operating Officer of Telegroup, commented: "Over the past two years, Eric Stakland has established a premier carrier services department within Telegroup, recruiting some of the best talent in the industry and establishing a network of contacts that resulted in Telegroup's 1997 carrier revenues growing to record levels. Eric Stakland is an extremely talented manager and I am confident he will enable Telegroup to expand our international operations, as we continue to build our sales force and subsidiaries internationally." In addition, Telegroup announced the promotion of Ronald L. Jackenthal to Vice President--Global Carrier Services, assuming the position vacated by the promotion of Eric Stakland. Mr. Jackenthal had served as Vice President--North American Sales at Telegroup. Prior to joining Telegroup, Mr. Jackenthal was National Director for Carrier Sales at Cable & Wireless Inc., the U.S. subsidiary of Cable & Wireless, PLC.
"Ron Jackenthal is clearly one of the most respected professionals in telecommunications in developing global wholesale relationships and managing carrier services. He has made an enormous contribution at Telegroup, and will continue to build our carrier business," said Steven Baumgartner.
Telegroup is a leading global provider of long distance telecommunications services. The company offers a broad range of discounted international, national, and enhanced telecommunications services to small- and medium-sized business and residential customers in over 200 countries worldwide. In addition, Telegroup offers value-added wholesale services to over twenty domestic and international telecommunications carriers. The company has achieved its significant international market penetration by developing what it believes to be one of the most comprehensive global sales, marketing and customer service organizations. Telegroup operates a reliable, cost-effective, digital, facilities-based network, the Telegroup Intelligent Global Network, which consists of a central network operating center, twenty-one switches, five enhanced service platforms, owned or leased capacity on seven digital fiber-optic cable links, and leased parallel data transmission capacity connecting Telegroup's switches to each other and the networks of other national and international carriers. Telegroup had revenues of $337 million in 1997.
Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: This news release contains statements which are not historical facts and may be considered forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including expansion of Telegroup's business, including international operations and carrier services. Telegroup's actual results might differ materially due to numerous factors including, without limitation, the Company's success in developing its business plan, and acquiring additional financing needed to meet this plan, foreign currency fluctuations, termination of certain operating agreements, and changes in tax law. Those and other risks are described in the Company's filings with the Securities and Exchange Commission.
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