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| 8-K - ARBINET Corp | v174854_8k.htm |
EXHIBIT
99.1
ARBINET
ANNOUNCES RESIGNATION OF DIRECTORS
AND
REDUCTION IN SIZE OF BOARD
HERNDON, VA – February 18, 2010 –
Arbinet Corporation (NasdaqGM: ARBX), a leading provider of
telecommunications services to fixed and mobile operators, today announced that
William “Bill” Freeman and Jill Thoerle have submitted their resignations from
the Company’s Board of Directors, effective February 11, 2010 and February 12,
2010, respectively. The Company also announced that the Board has
approved a reduction in size from nine to seven members.
Mr.
Freeman resigned due to personal circumstances and Ms. Thoerle resigned to focus
her time and energies in her role as CEO of Mediaport Entertainment, Inc.
Neither resignation was the result of any disagreement with the
Company.
Joe
Cecin, Chairman of Arbinet’s Board of Directors, said, “We appreciate the time
and effort that Jill and Bill devoted to the Company during their tenure on the
Board. Their support, hard work and insights have contributed greatly as
we continue to position Arbinet for success. We wish them well in their
future endeavors.
“We
believe a smaller Board is more appropriate for a company of Arbinet’s size and
are confident that our seven-person Board, which is comprised of highly
qualified individuals, will successfully guide Arbinet forward in a focused and
efficient manner as we continue to execute our strategic plan to create value
for our shareholders,” added Mr. Cecin.
About
Arbinet Corporation
Arbinet
is a leading provider of international voice and IP solutions to carriers and
service providers globally. With more than 1100 carriers across the world
utilizing the Arbinet network, Arbinet combines global scale with sophisticated
platform intelligence, call routing and industry leading credit management and
settlement capabilities. Customers and suppliers include many leading fixed
line, mobile, wholesale and VoIP carriers as well as calling card, ISPs and
content providers around the world who buy and sell voice and IP
telecommunications capacity and content. The Company can be reached at its
corporate headquarters in Herndon, VA at +1 703.456.7100 or by email at
sales@arbinet.com.
Forward-Looking
Statements
This
press release may contain forward-looking statements, including forward-looking
statements regarding anticipated future revenues, growth, capital expenditures,
management's future expansion plans, expected product and service developments
or enhancements, discussions of strategy, and future operating results. Such
forward-looking statements may be identified by, among other things, the use of
forward-looking terminology such as: “believes,” “expects,” “intends,” “may,”
“will,” “should,” “confident,” “work to,” “seeks,” or “anticipates,” or the
negative thereof or other variations thereon or comparable terminology, or by
discussions of strategy. Various risks and uncertainties may cause
Arbinet's actual results to differ materially from those expressed or implied in
such forward-looking statements. Please refer to Part I, Item 1A of the
Company's Annual Report on Form 10-K, filed with the Securities and Exchange
Commission on March 16, 2009, and other filings that have been filed with the
Securities and Exchange Commission for a description of the risks and
uncertainties that Arbinet faces. Arbinet assumes no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise, and such statements are current only as of the date they
are made.
Contacts:
Andrea
Priest / Andi Salas
Joele
Frank, Wilkinson Brimmer Katcher
212-355-4449