— J. Sherman Henderson III to take on new role, Stephen M. Lochmueller appointed as Chief Executive Officer and Randy Ammon appointed as President and Chief Operating Officer —
LOUISVILLE, KY, April 22, 2011 – Lightyear Network Solutions, Inc. (OTCBB:LYNS, news, filings) (www.lightyear.net), a provider of telecommunication services to business and residential customers throughout North America, reported that, effective May 1, 2011, J. Sherman Henderson III will assume the titles of Chair Emeritus and Founder. Mr. Henderson will continue to provide the Company with his years of experience and knowledge in an advisory capacity and as a member of the Company’s Board of Directors. Mr. Henderson will also continue to serve on the Executive Committee of COMPTEL, the leading telecommunication industry association, on behalf of the Company.
“I look forward to my new role with the Company as it continues to build upon the achievements of 2010,” said Mr. Henderson. “In 2010, we achieved many goals as we began operating as a public company, acquired SouthEast Telephone and reached profitability during the fourth quarter.”
The Company also announced that effective May 1, 2011, Stephen M. Lochmueller has been appointed as the Company’s Chief Executive Officer and Randy Ammon will assume the dual role of President and Chief Operating Officer of the Company. Mr. Lochmueller joined the Company as Chief Operating Officer in September 2009, assuming the role of President in April 2010. Mr. Ammon joined the Company as Chief Operating Officer in April 2010.
“I am pleased with the structure of the management team as I believe we have the team in place to achieve the Company’s goals,” stated Mr. Lochmueller. “The Company will continue to focus on its core products and explore new product opportunities.”
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiaries, Lightyear provides telecommunication services to businesses and residential customers throughout North America. Lightyear’s product offerings include local PRI and digital T1, enhanced Internet services, MPLS, Ethernet, Voice over Internet Protocol (VoIP), local and long distance service, and conferencing. Lightyear also offers wireless services to customers in the U.S. through wholesale contracts with multiple wireless providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings and has partnered with some of the most prominent names in telecom including: Sprint, Verizon, AT&T, Level 3, PAETEC, CenturyLink, XO Communications, Intelliverse, 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 forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.