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Elephant Talk Communications Announces Chairman and CEO Roles to be Separated and Addition to the Board of DirectorsNEW YORK, Sept. 28, 2015 /PRNewswire/ -- Elephant Talk Communications Corp. (NYSE MKT: ETAK) (the "Company"), a global provider of Software Defined Network Architecture (ET Software DNA 2.0™) platforms and cyber security solutions, today announced that it intends to separate the roles of Chairman of the Board of Directors and CEO. Mr. Steven van der Velden will remain as Chairman of the Board and step down as CEO once a qualified replacement has been appointed. The Board of Directors has created a Special Committee of three independent directors which is responsible for all aspects of the CEO search including retaining an executive search firm. The ideal CEO candidate will have a high level of commercial experience in the global telecoms industry and will be expected to identify and build his/her own executive management team. Separately, the Board announced the appointment of Mr. Roderick de Greef as a Director and Chairman of the Audit Committee. All four independent directors will now be members of the Audit, Compensation and Nominating/Governance Committees. Mr. De Greef has 25 years of public and private CFO experience and has served on the boards of several public companies over the last 15 years. Mr. De Greef was also a Director and Chairman of the Audit Committee of the Company from 2008 to 2011. Currently he is a partner with MedTech Advisors, Inc., a strategic and financial consulting firm. Mr. De Greef received a BA in Economics and International Relations from San Francisco State University and a MBA from University of Oregon. "With this step in our organizational transition and achievement of growth milestones in new markets such as Brazil, it is a good time to separate the roles of Chairman and CEO and turn over operational responsibilities to a new team that can build on this strong momentum," said Mr. Van der Velden, Chairman of the Board and CEO. "Although I am pleased with the organizational structure we have put in place over the past few months, the Board of Directors and I believe that there is room for further improvement. With a refocused strategy, now is the ideal time to look for a new leadership with a strong background in managing our global growth currently underway and over the next decade. I have full confidence that the Board will identify the right candidate for our new CEO that will elevate Elephant Talk's performance andenhance our value for shareholders and look forward to Roderick's contributions as Chairman of the Audit Committee, bringing further expertise to this critical area of the Company's operations." About Elephant Talk Communications Corp.: About ValidSoft UK Ltd.: Cautionary Note Regarding Forward-Looking Statements: Contacts: Investor Contact: Public Relations: Logo - http://photos.prnewswire.com/prnh/20120917/MM75872LOGO Logo - http://photos.prnewswire.com/prnh/20120917/MM75492LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/elephant-talk-communications-announces-chairman-and-ceo-roles-to-be-separated-and-addition-to-the-board-of-directors-300149765.html SOURCE Elephant Talk Communications Corp. |