Market Overview

Alteva Announces New Chairman of the Board

Alteva (NYSE: ALTV) (the "Company"), a premier provider of hosted Unified Communications-as-a-Service (UCaaS), announced that effective November 1, 2013, the Company appointed Kelly C. Bloss as Chairman of the Board of Directors to succeed Robert J. DeValentino, whose previously disclosed retirement from the Board of Directors became effective on October 31, 2013. Ms. Bloss, who joined the Board in 2006 and has most recently served as Chairman of the Governance and Nominating Committee and a member of the Compensation Committee, will serve as Chairman of the Board until the Board meeting following the Company's 2014 Annual Meeting of Shareholders. Additionally, in recognition of his years of service to the Company, the Board bestowed upon Mr. DeValentino the honorary title of Chairman Emeritus.

David Cuthbert, Alteva's President & Chief Executive Officer, said, "Alteva is privileged to have two such experienced leaders. Bob has led the Company through some very exciting times and an incredible transformation over the last several years. We are grateful for his years of dedication to Alteva and for the extraordinary service he has provided as our Chairman. Kelly has been a valuable asset to the Alteva Board of Directors since 2006. Her corporate governance experience and intimate knowledge of our company will be a significant benefit to Alteva as it continues on its growth plans. I am extremely pleased that she will be serving as our Chairman."

"It has been an honor to have been part of Alteva and after almost fifteen years with the Company, it's time to enjoy retirement," said Robert DeValentino, Chairman Emeritus.

"Bob has been a very strong leader and the Board is grateful and pleased that we can honor him as Emeritus Chairman. I am excited to assume the role of Chairman of the Board and look forward to working closely with President and CEO David Cuthbert, the Board, and the management team as we continue the Company's focus on innovation and growth." stated Kelly C. Bloss, Chairman of the Board.

As a result of these changes to the Board, the Governance and Nominating Committee recommended, and the Board of Directors approved, the following changes to committee assignments, effective November 7, 2013:

Posted-In: News Management

 

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