Windstream Announces Initial Appointments to New Board of Directors Upon Emergence from Restructuring
Windstream Holdings, Inc. (the "Company"), a leading provider of advanced network communications and technology solutions, today announced nine appointments to its new Board of Directors ("Board") that will govern the Company upon emergence from restructuring as a privately-held company. Tony Thomas also will continue leading Windstream as President and Chief Executive Officer and will serve as a member of the Board. The Company expects to emerge from restructuring later this summer.
"We are pleased to announce these appointments to the new Board of Windstream, which will include an impressive group of senior leaders with extensive experience in the telecommunications industry, strong operational and financial expertise and significant track records of success," stated Tony Thomas. "Windstream will benefit from their valuable insights and guidance as we continue executing the Company's strategy to provide innovative network and software solutions to customers. I would also like to express my appreciation for our retiring Board members for their service to Windstream. They have provided valuable oversight for many years, and, on behalf of Windstream, I want to thank them for their dedication and leadership."
Mr. Thomas continued, "I am extremely honored to continue serving as president and CEO of this incredible organization. Over the past few years, Windstream has made tremendous progress in our goal to transform our business to growth, and I look forward to working with the new Board to accelerate our transformation for long-term value creation. We will emerge from restructuring with a strong balance sheet and access to approximately $2 billion in new capital to expand 1 Gig broadband service to rural America and help businesses succeed in the digital transformation."
Windstream Holdings, Inc., is a leading provider of advanced network communications and technology solutions. Windstream provides data networking, core transport, security, unified communications and managed services to mid-market, enterprise and wholesale customers across the U.S. The company also offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states. Services are delivered over multiple network platforms including a nationwide IP network, our proprietary cloud core architecture and on a local and long-haul fiber network spanning approximately 164,000 miles. Additional information is available at windstream.com or windstreamenterprise.com. Please visit our newsroom at news.windstream.com or follow us on Twitter at @Windstream.
Cautionary Statement Regarding Forward Looking Statements
This release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions based on management's views, estimates, beliefs as of the time of these statements regarding future events and results. When used in this release, words such as "will," "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "strategy," "future" or their negatives or other words that convey the uncertainty of future events or outcomes, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements involve uncertainties and are subject to many risks and variables. Actual future events may differ materially from those expressed in these forward-looking statements as a result of a number of factors related to our Chapter 11 cases, which are set forth in our risk factors described in our 2019 Annual Report on Form 10-K and 2020 First Quarterly Report on Form 10-Q available at the SEC's website at www.sec.gov. Although we believe our forward-looking statements are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (partially or in full) or will prove to have been correct. In light of the above, the events anticipated by our forward-looking statements may not occur, and, if any of such events do, we may not have correctly anticipated timing or the extent of their impact. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
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