Thomas C. Stortz to Retire
May 6, 2014
BROOMFIELD, Colo., May 6, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE:LVLT, news, filings) today announced that Laurinda Y. Pang will be named executive vice president, chief administrative officer (CAO), to succeed Thomas C. Stortz, who will be retiring effective June 1, 2014. John M. Ryan, executive vice president, chief legal officer and assistant secretary for Level 3, will succeed Mr. Stortz as the company's secretary.
"I've been privileged to work with the great team at Level 3 these past 16 years," said Stortz. "We have strong leadership within the organization and I have every confidence in Laurinda and John as they assume their additional responsibilities. Level 3 is in a great place, and it feels good to have been a part of getting the company to where we are today. I leave the company optimistic about the future."
As chief administrative officer, Pang will have global responsibility for Level 3's human resources, corporate strategy, corporate development, corporate communications and corporate social responsibility. Pang, who most recently served as the company's chief human resources officer, has been with Level 3 and its predecessor companies since 1994. Prior to leading the company's strategic people initiatives, she served as vice president of customer experience re-engineering, vice president of investor relations and in other leadership roles in sales, operations and marketing.
"It is with gratitude and respect that we say good-bye to Tom, who has been instrumental in our company's growth and maturity," said Jeff Storey, president and chief executive officer of Level 3. "I wish him all the best in his retirement. I'm pleased to have Laurinda in the CAO role. Her extensive background and knowledge of our business make her the right executive to lead our strategic functions in support of profitable growth. John, as our chief legal officer and assistant secretary these past four years, was the natural choice as secretary. We expect a seamless transition for both positions."
About Level 3 Communications
Level 3 Communications, Inc. (NYSE:LVLT) is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. Level 3's comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 serves customers in more than 500 markets in over 60 countries across a global services platform anchored by owned fiber networks on three continents and connected by extensive undersea facilities. For more information, please visit www.level3.com or get to know us on Twitter, Facebook and LinkedIn.
© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications, Level (3) and the Level 3 Logo are either registered service marks or service marks of Level 3 Communications, LLC and/or one of its Affiliates in the United States and/or other countries. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners. Level 3 services are provided by subsidiaries of Level 3 Communications, Inc.
Some statements made in this press release are forward-looking in nature and are based on management's current expectations or beliefs. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. Important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to, the company's ability to: manage risks associated with continued uncertainty in the global economy; increase revenue from its services to realize its targets for financial and operating performance; maintain and increase traffic on its network; develop and maintain effective business support systems; manage system and network failures or disruptions; avert the breach of its network and computer system security measures; develop new services that meet customer demands and generate acceptable margins; manage the future expansion or adaptation of its network to remain competitive; defend intellectual property and proprietary rights; manage continued or accelerated decreases in market pricing for communications services; obtain capacity for its network from other providers and interconnect its network with other networks on favorable terms; attract and retain qualified management and other personnel; successfully integrate future acquisitions; effectively manage political, legal, regulatory, foreign currency and other risks it is exposed to due to its substantial international operations; mitigate its exposure to contingent liabilities; and meet all of the terms and conditions of its debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE Level 3 Communications, Inc.