Richard D. Calder will step down as president and CEO of GTT, effective on June 1, 2020.
“We appreciate the many accomplishments Rick has achieved since joining GTT as CEO in May 2007 over 13 years ago,” stated H. Brian Thompson, GTT executive chairman. “We have initiated an executive search for a new CEO to lead GTT moving forward.”
GTT is conducting a search for a replacement. In the interim, the company will be led by a group made up of several top executives, including chief financial officer Steven Berns, chief revenue officer Ernie Ortega, general counsel Chris McKee and senior vice president of operations and engineering Bob Burris.
GTT completes acquisition of KPN International
GTT Communications completed its previously announced acquisition of KPN International, which operates a global IP network serving enterprise and carrier clients. GTT paid approximately €50 million in cash, on a cash and debt-free basis.
The acquisition adds more than 400 strategic enterprise and carrier clients. GTT will also be the preferred international network supplier for several hundred additional clients retained by KPN.
GTT said the purchase adds to its portfolio of cloud networking services with wide area networking, internet and transport services, and adds depth to its global Tier 1 IP network in Europe across 21 countries.
GTT looks to sell subsea cables and European fiber network
GTT Communications has retained Credit Suisse and Goldman Sachs as financial advisors in connection with the potential sale of the Infrastructure Division, which includes its terrestrial pan-European fiber network, subsea transatlantic fiber and data centers. This infrastructure was part of GTT’s acquisition of Interoute and of Hibernia.
