Regions, executive assignments to become effective upon CenturyLink and Qwest merger completion in 2011
MONROE, La., Nov. 30, 2010 /PRNewswire-FirstCall/ -- CenturyLink, Inc. (NYSE:CTL, news, filings) announces the regional structure that will become effective when the company's merger with Qwest clears all state and federal regulatory approval processes and upon the legal closing of the transaction. The merger is expected to be completed during the first half of 2011.
The combined company's 37-state service area will be organized into six regions and led by region presidents. The region presidents are responsible for revenue, customer retention, customer satisfaction and service delivery throughout their local markets. The regions, region presidents, region headquarters locations, and states within each region are:
- Eastern Region
- President: Todd Schafer, currently president of CenturyLink's Mid-Atlantic Region
- Headquarters: Wake Forest, N.C.
- States: Georgia, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia
- Midwest Region
- President: Duane Ring, currently president of CenturyLink's Northeast Region
- Headquarters: Minneapolis, Minn.
- States: Illinois, Indiana, Iowa, Michigan, Minnesota, Nebraska, North Dakota, South Dakota, Wisconsin
- Mountain Region
- President: Kenny Wyatt, currently president of CenturyLink's South Central Region
- Headquarters: Denver, Colo.
- States: Colorado, Montana, Utah, Wyoming
- Southern Region
- President: Dana Chase, currently president of CenturyLink's Southern Region
- Headquarters: Orlando, Fla.
- States: Alabama, Arkansas, Florida, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Texas
- Northwest Region
- President: Brian Stading, currently vice president of network operations and engineering for Qwest
- Headquarters: Seattle, Wash.
- States: California, Idaho, Oregon, Washington
- Southwest Region
- President: Terry Beeler, currently president of CenturyLink's Western Region
- Headquarters: Phoenix, Ariz.
- States: Arizona, New Mexico, Nevada
Each region will be segmented into several local markets, each of which will be led by a vice president/general manager who will be responsible for the market's financial and operational performance. CenturyLink will name these executives and their locations in the near future.
"Through this regional and local approach, we place leadership and decision making as close as possible to our customers," said CenturyLink Chief Operating Officer Karen Puckett. "The headquarters of the six regions of the combined company will be located where we will have the highest concentration of customers and employees. Our presence in these cities, combined with the local market knowledge we will have throughout our service areas, will allow us to compete more effectively and deliver the best possible customer experience across all of our markets whether rural, urban or metropolitan."
As of Sept. 30, 2010, CenturyLink served approximately 2.4 million broadband customers, 6.6 million access lines and 588,000 satellite video subscribers. On the same date, Qwest served approximately 2.9 million broadband customers, 9.1 million access lines, 960,000 video subscribers and more than one million wireless customers.
For more information about the merger, visit centurylinkqwestmerger.com.
CenturyLink is a leading provider of high-quality broadband, entertainment and voice services over its advanced communications networks to consumers and businesses in 33 states. CenturyLink, headquartered in Monroe, La., is an S&P 500 company and is included among the Fortune 500 list of America's largest corporations. For more information on CenturyLink, visit www.centurylink.com.
Forward Looking Statements
Except for the historical and factual information contained herein, the matters set forth in this communication, including statements regarding the expected timing and benefits of the acquisition such as efficiencies, cost savings, enhanced revenues, growth potential, market profile and financial strength, and the competitive ability and position of the combined company, and other statements identified by words such as "estimates," "expects," "projects," "plans," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: the ability of the parties to timely and successfully receive the required approvals of regulatory agencies and their respective shareholders; the possibility that the anticipated benefits from the acquisition cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of Qwest's operations into CenturyLink will be greater than expected; the ability of the combined company to retain and hire key personnel; the timing, success and overall effects of competition from a wide variety of competitive providers; the risks inherent in rapid technological change; the effects of ongoing changes in the regulation of the communications industry; the ability of the combined company to effectively adjust to changes in the communications industry and to successfully introduce new product or service offerings on a timely and cost-effective basis; any adverse developments in commercial disputes or legal proceedings; the ability of the combined company to utilize net operating losses in amounts projected; changes in our future cash requirements; and other risk factors and cautionary statements as detailed from time to time in each of CenturyLink's and Qwest's reports filed with the Securities and Exchange Commission (SEC). There can be no assurance that the proposed acquisition will in fact be consummated. You should be aware that new factors may emerge from time to time and it is not possible for us to identify all such factors nor can we predict the impact of each such factor on the acquisition or the combined company. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this communication. Unless legally required, CenturyLink and Qwest undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE CenturyLink, Inc.