magicJack Names Gerald T. Vento President and CEO Effective January 1
magicJack VocalTec (NASDAQ: CALL) today announced the appointment of Gerald T. Vento as President and Chief Executive Officer effective January 1, 2013. Mr. Vento is a seasoned telecom executive with more than three decades of experience and a strong industry track record. Notably, he founded TeleCorp PCS, Inc., a public U.S. wireless services company, in 1996. As Chairman and CEO, he grew TeleCorp's annual revenue to $1.1 billion and sold the company to AT&T Wireless for $5.7 billion in 2002. Mr. Vento has been a Director of magicJack since 2008 and became Chairman of the Board in April 2012. In connection with Mr. Vento's new role, current Board Member Donald Burns, also an experienced and successful public telecom company founder and CEO, will assume the role of Chairman of the Board.
Daniel Borislow stated, "Jerry and Donald are proven winners and the Board and I agree that they will be the best CEO and Chairman to maximize shareholder value and realize magicJack's vast potential. I am more