-- Former Leap Wireless and Nextel Partners Executive to Implement Corporate Growth Initiatives and Oversee Accretive Acquisition Strategy --
LOUISVILLE, KY, May 11, 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 across the United States, today announced that Stephen Lochmueller, industry veteran and former member of the senior management teams at Leap Wireless and Nextel Partners, has been promoted to President at Lightyear Network Solutions.
Mr. Lochmueller, age 57, joined Lightyear Network Solutions first, as a consultant in June 2009, and then as Chief Operating Officer in September 2009, providing skilled operational awareness and invaluable telecommunications knowledge during Lightyear’s transformation into a public company. He has over 20 years of telecom industry experience and a history of success with small companies, as well as industry giants such as Leap Wireless, Nextel Partners, GTE Telecommunications and Cellular One, which would later become AT&T Wireless. Throughout his career, Mr. Lochmueller has consistently designed and implemented strategies to start up new organizations and successfully employ sustainable growth initiatives at existing companies. Among his attributes, he is skilled at cultivating relationships with vendors, customers, regulators and government institutions to efficiently position a business in order to maximize growth.
“Steve has been a tremendous asset to Lightyear since he began working with our team in 2009, and we look forward to benefiting from his extensive experience and industry connections as Lightyear’s new President,” said J. Sherman Henderson, CEO at Lightyear Network Solutions. “As an astute operational leader with an instinct for capitalizing on new opportunities, he will be overseeing Lightyear’s focused acquisition strategy and related integration plan during our anticipated growth phase as a public company.”
Stephen Lochmueller stated, “Lightyear is about to enter an exciting time in its corporate history. Now that the logistics of becoming a public company are behind us, we are preparing to leverage our enhanced ability to raise capital, combined with Lightyear’s valuable client base and highly effective in-house systems and agent channels, to initiate a series of organic growth initiatives and accretive acquisitions. Over the next few weeks and months, we look forward to announcing the addition of new personnel to our management team in order to assist with our implementation strategies, as well as keeping investors apprised of our acquisition targets and new corporate developments.”
From 2001 to 2002, Mr. Lochmueller assisted Leap Wireless to start up, develop, and launch a region for this spin-off of Qualcomm. Mr. Lochmueller directed a team of over a dozen regional managers while raising revenues from zero to $110 million. Prior to Leap Wireless, Mr. Lochmueller was recruited to assist in the start up Nextel Partners, a telecommunications provider and affiliate of Nextel Communications, providing digital wireless communications services in small and mid-sized US markets. In his role as Area General Manager, Mr. Lochmueller grew the company and managed 100 employees through 10 direct reports while holding P&L responsibility. Over his distinctive career, Mr. Lochmueller has held senior management and leadership positions at Pri-Cellular, Horizon Cellular, GTE Telecommunications (later Verizon Communications) and Cellular One (later AT&T Wireless).
Mr. Lochmueller has made significant contributions to his community as a member of the Board of Directors for the Lexington Chamber of Commerce, The Kentucky Council on Economic Education, The Kentucky Chamber of Commerce, and The Somerset Pulaski County Development Foundation. Mr. Lochmueller graduated from the University of Kentucky (”UK”) in 1975 and was a member of the UK basketball team from 1971 to 1974.
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.
J. Sherman Henderson III, 866-406-7253
Chief Executive Officer
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