John Scarano Steps down as PRESIDENT & COO of Zayo bandwidth
Scarano departs with, “Confidence in Zayo’s Continued Success”
LOUISVILLE, Colo. – November 2, 2010 –Zayo Group (“Zayo”), a provider of bandwidth infrastructure services, announced today that John Scarano, President and COO of Zayo Bandwidth, will be leaving Zayo effective November 19th, 2010. Mr. Scarano co-founded Zayo with President and CEO, Dan Caruso in 2006. Mr. Scarano’s original four year agreement was fulfilled in October of 2010 and he determined, due to the stability of Zayo, that this would be an ideal time for him to focus on the next phase of his career. Mr. Scarano remains a major equity owner in Zayo and will be available to Zayo’s management if any needs should arise.
In a memo to the Zayo Team, Mr. Scarano explained, “I personally enjoy building or fixing companies then leading them through the necessary changes where the future is uncertain. As a result of the teams’ focused efforts, Zayo’s strong future appears certain. Given our current position of strength, this is an ideal time to step aside and have another take my place and lead and grow with you together for years to come. While my decision was a tough one to make, I leave with every confidence of Zayo’s future success.”
Mr. Caruso, reflecting on his long professional relationship with Mr. Scarano dating back to 1995 and covering multiple ventures said, “I met John in 1995 while at MFS Communications, and we worked together at Level 3 and our turnaround of ICG Communications. After selling ICG Communications, I was especially pleased to see the old gang, led by John, reassemble to launch Zayo in 2006.”
Mr. Caruso also commented on Mr. Scarano’s accomplishments with Zayo, “John was integral in the acquisitions that became the foundation of the Zayo Bandwidth segment. As the leader of Zayo Bandwidth, John oversaw that segment’s impressive organic revenue and EBITDA growth as well as its successful building of a wireless tower backhaul business. While I regret seeing John depart, he is leaving a business that is performing exceptionally well. We look forward to sharing our recent results on our upcoming earnings conference call scheduled for November 12, 2010.”
Mr. Scarano’s current responsibilities will be distributed to existing members of the leadership team, including Mr. Caruso. Mr. Caruso and Zayo’s Board will evaluate options to replace Mr. Scarano or permanently redistribute his duties.
About Zayo Group
Based in Louisville, Colo., privately owned Zayo Group (www.zayo.com) is a provider of telecom and Bandwidth infrastructure services. Zayo provides its infrastructure services over its regional, metro fiber and fiber to the tower networks that span 150 markets and 30 states plus the District of Columbia. Zayo Group is organized into autonomous business units that focus on specific segments of Bandwidth Infrastructure Solutions: Dark Fiber, Lit Fiber and Carrier-Neutral Colocation.
Director, Corporate Marketing - Zayo