BOULDER, Colo. – June 22, 2017 – Today, Zayo Group Holdings, Inc. (NYSE: ZAYO) announced that Edward (Ed) Morche resigned from the company to rejoin Level 3 Communications, ending his tenure at Zayo after approximately one month.
During Morche’s short tenure at Zayo, the feedback he provided to Zayo’s executives, investors and board was positive about Zayo’s culture, its strategic direction and tactical execution, its sales momentum and the strength of its relationships with its customers. Morche cited an enhanced compensation package and expanded scope of responsibility as the sole reasons for his departure.
Zayo’s net bookings for the Mar17q were $6.9M (excluding Allstream), which reflected a strong recovery from the Dec16q. In Zayo’s May 9, 2017 earnings call, Zayo expressed confidence that this positive Net Bookings momentum would continue. Zayo re-affirms this expectation.
“Ed’s positive feedback on our sales situation matches my assessment,” said Andrew Crouch, president and COO at Zayo. “Unlike what is often the norm in telecom, Zayo’s major customers are pleased with the solutions provided by Zayo and the overall customer experience we deliver. The opportunity at hand is to serve a larger number of bandwidth-intensive customers across the broader spectrum of Zayo’s Communications Infrastructure product portfolio.”
“We are encouraged by our near-term results while recognizing our fiber and colocation platform, industry consolidation and the fundamental demand for bandwidth is creating an increased opportunity for us,” added Dan Caruso, chairman and CEO at Zayo. “Our commitment to strengthen Zayo’s sales and marketing competency is so that we can capture this enhanced opportunity.”
Given the short amount of time that Morche was with Zayo, little will change in the near-term plans. Max Clauson, a seasoned Zayo executive who had been leading Zayo’s sales efforts over the quarters prior to Morche’s arrival, and who had remained directly engaged with that team over the past month, will continue to have overall responsibility for sales and lead the team as he had been doing previously.
For more information about Zayo, please visit zayo.com.
About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to the world’s leading businesses. Customers include wireless and wireline carriers, media and content companies and finance, healthcare and other large enterprises. Zayo’s 122,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. In addition to high-capacity dark fiber, wavelength, Ethernet and other connectivity solutions, Zayo offers colocation and cloud infrastructure in its carrier-neutral data centers. Zayo provides clients with flexible, customized solutions and self-service through Tranzact, an innovative online platform for managing and purchasing bandwidth and services. For more information, visit zayo.com.
Forward Looking Statements
This press release contains a number of forward-looking statements. Words, and variations of words such as “believe,” “expect,” “plan,” “continue,” “will,” “should,” and similar expressions are intended to identify our forward-looking statements. No assurance can be given that future results expressed or implied by the forward-looking statements will be achieved and actual results may differ materially from those contemplated by the forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond our control. For additional information on these and other factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our filings with the SEC, including our 10-K dated August 25, 2016. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.