-- Telecom Industry Veteran to Focus on Scaling Operations and Integration of Potential Acquisitions --
LOUISVILLE, KY, May 13, 2010 - Lightyear Network Solutions, Inc. (OTCBB:LYNS, news, filings), a provider of telecommunication services to large, medium and small businesses, as well as residential consumers throughout North America, today announced the appointment of industry veteran and former senior manager at Nextel Partners, Randy Ammon, as its new Chief Operations Officer.
Mr. Ammon, age 49, has over 20 years of telecom industry experience including management and senior level positions at renowned enterprises, including Nextel Partners, AT&T, and Telecom*USA. He has also served as an operational advisor, interim President and CFO for various companies ranging from start-ups to mid-size enterprises looking to implement cost containment strategies and system process redesigns. Over the years, Mr. Ammon has developed a history of building and leading cross-functional teams to achieve strategic and tactical corporate objectives across a wide variety of telecom services.
“We’re pleased to announce the addition of Randy Ammon to our executive team, and look forward to working closely with him as we continue to enhance our business operations and telecommunication services throughout North America,” said J. Sherman Henderson, CEO at Lightyear Network Solutions. “With his outstanding reputation and significant experience in the telecom industry, Randy will assist Lightyear in spearheading our focused acquisition strategy and related integration plan while maintaining our renowned reputation for customer service and continued innovation with ‘industry firsts’.”
Randy Ammon stated, “I joined the Lightyear team because I believe that the Company has a unique position in the marketplace, as technological developments continue to reinvent the telecom industry and lead the way to considerable opportunities for consolidation amongst second and third-tier acquisition targets. As we prepare to embark on Lightyear’s future growth phase as a public company, our objective is to remain steadfast in our commitment to customer service and agent channel experience, while quickly and efficiently integrating new opportunities.”
From 1998 to 2005 Mr. Ammon was Director Business Operations at Nextel Partners Inc., where he implemented key integration processes and a core system migration that accomplished significant cost reductions and improved operational efficiency.
Previously, from 1990 to 1998, Mr. Ammon worked in various senior finance and management positions at AT&T Wireless, including Finance Manager, Senior Marketing Manager and Director Business Operations. At AT&T he directed the creation of the first combined wireless and wireline sales and implementation group, leading to a number of new paradigms within the organization. In other experience Mr. Ammon worked at Telecom*USA, a $400 million national long distance provider, where he was responsible for financial and operational integration of three regional acquisitions. Mr. Ammon graduated with a B.A. in Accounting with an emphasis in Economics from Gustavus Adolphus College in St. Peter, MN.
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiary, Lightyear Network Solutions, LLC, Lightyear provides telecommunication services to large, medium and small businesses and to residential consumers throughout North America utilizing its extensive network of independent agents and representatives. J. Sherman Henderson III, Lightyear’s Chief Executive Officer, has nearly 25 years experience in the telecommunications industry. Henderson was named one of the Top 25 Most Influential People in Telecommunications and was elected for six consecutive terms as Chairman of COMPTEL, the leading industry association representing more than 250 service providers. Lightyear’s product and service offerings include: local PRI and digital T1, enhanced internet services, frame relay, MPLS, Point-to-Point, Voice over Internet Protocol (VoIP), local and long distance, calling cards, and conferencing. Lightyear has also begun offering wireless services to customers in the U.S. through wholesale contracts with multiple wireless voice and data service providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings to its customers and has partnered with some of the most prominent names in telecom including: Sprint, Verizon, AT&T, Qwest, Level 3, PAETEC, CenturyLink, Intelliverse, Globys BroadSoft, Cisco and Adtran. Lightyear Network Solutions is headquartered in Louisville, KY. Additional information can be found at: www.lightyear.net.
This press release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Lightyear’s actual results to differ materially from those currently anticipated. These forward-looking statements may include, without limitation, statements about our marketing and acquisition opportunities, business strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward looking statements are reasonable, the risks and uncertainties which could cause our actual results to differ materially from those currently anticipated includes changes in market conditions, our ability to integrate acquired operations, the ability to obtain additional financing on satisfactory terms, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and risk factors described in our filings with the Securities and Exchange Commission. Lightyear undertakes no obligation to revise or update any forwardlooking statements in order to reflect events or circumstances that may arise after the date of this press release.
Lightyear Network Solutions, Inc.
Steve Rush, 502-410-1397
Financial Communications Contacts:
Porter, LeVay & Rose, Inc.
Marlon Nurse, 212-564-4700
V.P. – Investor Relations
Trilogy Capital Partners
Darren Minton, 800-592-6067
Executive Vice President