WARWICK, NY – March 5, 2013 – The Board of Directors of Alteva (the “Company”) (NYSE MKT: ALTV) announced the election of David Cuthbert to replace Duane Albro as Chief Executive Officer, effective today, March 5, 2013. Mr. Cuthbert was the CEO and President of Alteva, LLC, a nationally ranked cloud-based Unified Communications solutions provider and enterprise hosted Voice over Internet Protocol provider headquartered in Philadelphia, which was acquired by the Company in August 2011. At that time, Mr. Cuthbert was named COO of the parent company and President of its primary operating subsidiary. In December 2011, Mr. Cuthbert was appointed to the Company’s Board of Directors and in August 2012 was named President of the parent company, thus carrying out the first steps of the CEO succession plan. Reflecting the prominence of the Alteva subsidiary in the communications industry which continued to be led by Mr. Cuthbert and a singular vision for generating profitable growth throughout the organization, the entire Company began conducting business as Alteva in January 2013.
Mr. Cuthbert is a graduate of the United States Naval Academy and a former Naval Special Operations Officer. In this capacity he has led underwater and land bomb disposal teams domestically and abroad. In 2004, Mr. Cuthbert was assigned the leadership responsibility of a nuclear weapon casualty response detachment. He left Navy Special Operations in 2006 and joined Alteva, LLC as Director of Operations.
Duane W. Albro will continue as a Director until the Company’s Annual Meeting of Shareholders in May 2013.
Robert DeValentino, Chairman stated, “We are extremely pleased with the transition process and the positive impact David has made since joining the Company. We are excited about the continued growth and direction of the Company and know that David is the best possible choice in leading Alteva into the future. We appreciate Duane’s support and assistance to David during this transition process and wish him continued success.”
More at www.alteva.com