Pareteum Appoints Laura W. Thomas as Interim Chief Financial Officer
NEW YORK, Nov. 5, 2019 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM) today announced that the Company has appointed Laura W. Thomas as Interim Chief Financial Officer, effective November 1, 2019. Laura will succeed Ted O'Donnell whose status with the company is under review.
Ms. Thomas brings over 30 years of experience in the telecommunications industry, including assisting large and small organizations through significant operational challenges and upholding corporate governance and transparency among stakeholders. Ms. Thomas currently serves as Chairman of the Board of Directors of Delta Dental of Virginia and is a member of the National Association of Corporate Directors (NACD). Previously, Ms. Thomas served as Chief Financial Officer of Towerstream, a leading fixed wireless Internet provider in the U.S. In this role, she implemented a strategy to re-capitalize the company and institute key financial controls. Prior to that, she served as Chairman of the Board of Directors of Impact Telecom, a leading provider of voice and messaging solutions for businesses and carriers. In this role, she provided leadership to the company's management team focused on implementing strategic initiatives and increasing enterprise value. Ms. Thomas also served as CEO of TNCI, a national telecommunications provider, and has held various leadership roles at XO Communications.
"We are thrilled to welcome Laura to Pareteum as we continue to strengthen our management team," said Hal Turner, Executive Chairman and CEO of Pareteum. "Laura's proven track record of operational leadership and financial controls expertise will guide Pareteum as we prepare for the next phase of the company's growth. We continue to see strong customer demand for our platform and are intently focused on improving our internal processes and moving the company forward to capitalize on significant global opportunities for Pareteum."
About Pareteum Corporation: Millions of people and devices are connected around the world using Pareteum's Global Cloud Communications Platform, enhancing their mobile experience. Pareteum unleashes the power of applications and mobile services, bringing secure, ubiquitous, scalable, and seamlessly available voice, video, SMS/text messaging, and data, media and content enablement to our customers, making worldwide communications services easily and economically accessible to everyone. By harnessing the value of our cloud communications platform, Pareteum serves enterprises, communications service providers, early stage innovators, developers, IoT, and telecommunications infrastructure providers. Pareteum envisions a new mobile communications experience, imagining what is to come, while delivering now. Pareteum currently has offices in North America, South America, Spain, Bahrain, Singapore, India, Indonesia, Germany, Belgium, United Kingdom, Russia, and the Netherlands. For more information please visit: www.pareteum.com.
Forward Looking Statements: Certain statements contained herein constitute "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. These risks include, among other things (1) the ability to complete Pareteum's restatement of its previously issued consolidated financial statements as of and for the full year ended December 31, 2018, and interim periods ended March 31, 2019 and June 30, 2019 and address any material weaknesses, the timing of the completion of necessary restatements, interim reviews and audits by the Company's independent registered public accounting firm, (2) risks relating to the substantial costs and diversion of personnel's attention and resources deployed to address the restatement of the affected financial statements and internal control matters, (3) the risk of litigation or regulatory action arising from the restatement of the affected financial statements, (4) the timing of the review by, and the conclusions of, the Company's independent auditor regarding the restatement, (5) the ability of the Company to remediate any material weaknesses in internal control over financial reporting, (6) potential reputational damage that the Company may suffer as a result of the restatement of the affected financial statements, (7) the impact of the restatement of the affected financial statements on the value of the Company's common stock, and (8) the risk that the filing of the restatement of the affected financial statements will take longer than anticipated. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
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Pareteum Investor Relations Contacts:
Carrie Howes
Investor Relations
+1 650 232 4238
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SOURCE Pareteum Corporation
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