LCC International Names New President and Chief Executive Officer
04 Outubro 2005 - 6:08PM
Business Wire
LCC International, Inc., (NASDAQ:LCCIE) a global leader in wireless
voice and data turn-key technical consulting services, announced
today that Dean J. Douglas has been named President and Chief
Executive Officer effective October 17, 2005. Mr. Douglas will also
serve as a member of LCC's Board of Directors. Mr. Douglas, prior
to joining LCC, was Vice President, Communications and Distribution
Sectors, IBM Global Services, a business segment of International
Business Machines (IBM) and has 25 years experience in the systems
and telecommunications industries. Julie A. Dobson, chairman of the
LCC Board of Directors said, "Dean was a great find for LCC. We are
witnessing significant change in the wireless industry as enhanced
data services become a reality and wireless technology becomes an
essential communications tool for carriers, enterprise and
government clients. In addition, the lines between wireless,
wireline and IP based technology are quickly becoming a thing of
the past. Dean has a proven track record and broad-based
international experience in these technologies and market segments,
with a vision that complements LCC's long tradition of innovation,
technical excellence and leadership in the wireless industry." The
Company also announced that LCC's Interim CEO, Mr. Peter Deliso,
will remain with the Company as Senior Vice President, Corporate
Affairs in addition to his duties as General Counsel and Secretary.
"The Board of Directors of LCC is extremely grateful for Peter's
contributions and leadership," Ms. Dobson said. "He assumed the
leadership of LCC during a difficult transitional period and was
able to move the Company forward while the Board conducted the
search for a new CEO. Peter continues to be a valuable member of
our senior management team." As Vice President, Communications and
Distributions Sectors, IBM Global Services, Mr. Douglas was
responsible for the outsourcing, outtasking and transformation
services businesses, where his clients included most of the major
telecommunications carriers. Before joining IBM, Mr. Douglas was
General Manager of Invisix, a Cisco/Motorola joint venture created
to exploit emerging wireless IP technology. In addition, he was
responsible for worldwide business development for Motorola's
Cellular Infrastructure Group prior to his Invisix
responsibilities. Mr. Douglas commented, "We are at a unique
juncture in our ability to exploit wireless technology in the near
term. The inherent benefits and justification of wireless
technology to businesses and consumers, in a truly ubiquitous way,
is a reality today. It is up to the wireless industry to continue
to drive innovative implementations of technology that leverage the
extraordinary possibilities that wireless provides. As a part of
LCC, together with the LCC team, we have an opportunity to be at
the fore-front of this rapid change and exciting innovation." A
business administration graduate of the University of Mississippi,
Mr. Douglas started with IBM in 1981 and has held a number of
sales, marketing and management positions NASDAQ Rule 4350 requires
an issuer to disclose in a press release the material terms of a
grant of securities made to officers, directors, employees or
consultants, which were made as an inducement material to the
person's employment with the Company if the grant was made without
the approval of the issuer's shareholders. As a part of the equity
compensation arrangements for Mr. Douglas, the Company has granted,
to Mr. Douglas the following: a) Restricted stock units relating to
five hundred thousand (500,000) shares of the Company's Class "A"
Common Stock. The restricted stock units vest in one-third
increments on each of the first, second and third anniversary of
the grant date; provided that Mr. Douglas remains in service with
the Company or one of its affiliated companies. The restricted
stock units will vest 100% upon termination of Mr. Douglas'
employment as a result of death, disability, by the Company without
cause or by Mr. Douglas for good reason and will vest to the extent
of 66% if there is a change in control of the Company within 18
months. b) Options to purchase one million (1,000,000) shares of
the Company's Class "A" Common Stock having an exercise price of
$2.491, which was equal to the fair market value of the underlying
Class "A" Common Stock on the grant date. The options will vest in
pro rata increments based on the 20 day average closing price per
share within the following share price bands, (first 25% $4.00,
next 25% $5.75, next 25% $7.25, final 25% $9.00) provided that in
no event shall options held vest with respect to more than one
third (1/3rd) of the shares of Class "A" Common Stock subject to
this grant in any single calendar year. The options will vest 100%
upon termination Mr. Douglas' employment as a result of death or
disability or by the Company without cause or by Mr. Douglas for
good reason, within 3 months prior to or 18 months following a
change in control of the Company and will vest to the extent of 50%
in the event of a change in control within 18 months not involving
termination of Mr. Douglas' employment. About LCC LCC
International, Inc. is a global leader in voice and data design,
deployment and management services to the wireless
telecommunications industry. Since 1983, LCC has performed
technical services for the largest wireless operators in North and
South America, Europe, The Middle East, Africa and Asia. The
Company has worked with substantially all major access technologies
and has participated in the success of some of the largest and most
sophisticated wireless systems in the world. Through an integrated
set of technical business consulting, training, design, deployment,
operations and maintenance services, LCC is unique in its ability
to provide comprehensive turnkey services to wireless operators
around the world. News and additional information are available at
www.lcc.com. Statements included in this news release which are not
historical in nature are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 including, without limitation, statements
regarding increased demand for the Company's services, the
Company's ability to secure new business, and those factors
highlighted in LCC International, Inc.'s Annual Reports on Form
10-K and Quarterly Reports on Form 10-Q, which could cause the
Company's actual results to differ materially from forward-looking
statements made by the Company.
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