IDT Corp. Appoints Sen. Rudy Boschwitz and Rev. Eric Cosentino to Board of Directors of IDT Media
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Former U.S. Senator from Minnesota and Episcopal Priest from New York Join Board Responsible for Company’s Media Initiatives
NEWARK, N.J. – June 18, 2002 – IDT Corporation (NYSE: IDT.B, IDT), a leading multinational carrier and telephone company, is pleased to announce the appointment of former United States Senator Rudy Boschwitz and the Rev. Eric Cosentino to the Board of Directors of its IDT Media subsidiary.
“Rudy Boschwitz is someone I’ve long admired. And I’ve known Eric Cosentino for much of my life,” said Howard Jonas, IDT’s Chairman. “They are both individuals who care passionately about giving something back to society. Senator Boschwitz is a leader in the fight against world hunger, while Eric Cosentino is ministering to his congregation and running a nursery school for his whole community. It’s a great pleasure to welcome them to the Board of Directors of IDT Media.”
Rudy Boschwitz was first elected to the United States Senate from Minnesota in 1978. He was reelected in 1984, and served until 1991. Sen. Boschwitz is currently Chairman of the Advisory Committee of the Center for Global Food Issues, and a director of the U.N.’s Friends of the World food program, the Hudson Institute, and the St. Paul Chamber Orchestra.
The Rev. Eric Cosentino is Rector of the Episcopal Church of the Divine Love in Montrose, New York, where he ministers in the historic Hudson Valley and supervises a nursery school for the wider community. Prior to joining the ministry, Father Cosentino was Assistant to the President of Jonas Communications. His published work includes articles and book reviews for The Episcopal New Yorker, Care & Community, and Evangelical Journal.
“At IDT ethics isn’t just a word we lightly toss around, it’s the way we do business every single day,” said Jim Courter, IDT’s CEO. “We already have a Rabbi and other distinguished people on the Board of Directors of IDT Media. It’s my great pleasure to also welcome Senator Boschwitz and Reverend Cosentino to the Board.”
The outside Directors that Sen. Boschwitz and the Rev. Cosentino join on the Board of IDT Media are Rabbi Irwin Katsof, Roberto Muller and Harvey Schiller.
IDT CORPORATION
IDT, through its IDT Telecom subsidiary, is a leading facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. Through its own national telecommunications backbone and fiber optic network infrastructure, IDT Telecom provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT Media is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media.
Through its various subsidiaries, IDT has interests in several telecom, Internet-related and media companies. IDT recently acquired Winstar Communications. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of June 10, 2002, there were 53.4 million shares of Class B common stock (IDT.B) outstanding, and 24.9 million shares of common stock (IDT). Of these, 4.0 million shares of Class B common stock and 5.4 million shares of common stock were held by units of IDT Corporation.
Except for historical information, all of the expectations and Assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation,recession, interest rates, and other economic factors; (b) casualty to or other disruption of our facilities and operations; (c) those discussed in our Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward looking statements.
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Jun 18, 2002 |
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