PLANO,
Texas, Oct. 3, 2024 /PRNewswire/ -- Ribbon
Communications Inc. (Nasdaq: RBBN), a global provider of real time
communications technology and IP optical networking solutions to
many of the world's largest service providers, enterprises, and
critical infrastructure operators to modernize and protect their
networks, today announced the appointment of John Townsend as Executive Vice President
and Chief Financial Officer effective November 1, 2024. Mr. Townsend will succeed
Miguel "Mick" Lopez who Ribbon previously announced is
retiring after a short transition period.
Mr. Townsend is a proven financial leader with an impressive
career that spans over 30 years leading large complex financial
organizations for several of the industry's largest service
providers across five continents and 30 countries.
Mr. Townsend spent nine years at Verizon Communications as Chief
Financial Officer for several organizations including Verizon
Business, Verizon Consumer, and Verizon Wireless, supporting annual
revenue streams in excess of $90
billion and leading his teams through periods of aggressive
change and growth.
Prior to Verizon, Mr. Townsend spent almost two decades at
Vodafone with several regional CFO assignments where he was
instrumental in leading commercial and business transformation
programs that spanned across many countries and markets, navigating
diverse multicultural organizations. As part of his time at
Vodafone, he held the Chief Financial Officer position of the
Verizon Wireless joint venture responsible for the company's SEC
reporting and investor communications.
Most recently Mr. Townsend served as the CFO of Digicel where he
drove profitability improvements and operational
efficiencies.
"John joins us with extensive industry experience and a strong
track record of delivering profitable growth, value creation and
financial foresight," said Bruce
McClelland, Ribbon Communications Chief Executive Officer.
"We welcome John to Ribbon as we continue our mission
to become a leading communication solutions supplier. His
appointment reflects our commitment to strategic leadership.
We also want to thank Mick again for his contributions over the
last 4 years."
"In my discussions with Bruce, members of the Board of Directors
and other members of the executive team, it was clear to me that
Ribbon is executing well against its strategic vision and has
positioned itself to capitalize on major industry investments in
network transformation to support the exponential growth in data
traffic from mobile, broadband, and AI," said John Townsend. "I look forward to joining
Ribbon and working with one of the best teams in the industry in
order to drive value for all stakeholders."
About Ribbon
Ribbon Communications (Nasdaq: RBBN) delivers communications
software, IP and optical networking solutions to service providers,
enterprises and critical infrastructure sectors globally. We engage
deeply with our customers, helping them modernize their networks
for improved competitive positioning and business outcomes in
today's smart, always-on and data-hungry world. Our innovative,
end-to-end solutions portfolio delivers unparalleled scale,
performance, and agility, including core to edge software-centric
solutions, cloud-native offers, leading-edge security and analytics
tools, along with IP and optical networking solutions for 5G and
broadband internet. We maintain a keen focus on our commitments to
Environmental, Social and Governance (ESG) matters, offering an
annual Sustainability Report to our stakeholders. To learn more
about Ribbon visit rbbn.com.
Important Information Regarding Forward-Looking
Statements
The information in this release contains
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, which are subject to a
number of risks and uncertainties. All statements other than
statements of historical facts contained in this release, including
without limitation statements regarding the Company's future growth
and industry trends, are forward-looking statements. Without
limiting the foregoing, the words "believes", "estimates",
"expects", "expectations", "intends", "may", "plans", "projects"
and other similar language, are intended to identify
forward-looking statements. Forward-looking statements are
based on the Company's current expectations and assumptions
regarding its business, the economy and other future conditions.
Because forward-looking statements relate to the future, they are
subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Actual results may
differ materially from those contemplated in these forward-looking
statements due to various risks, uncertainties and other important
factors, including, among others, the effects of geopolitical
instabilities and wars, including in Israel and Ukraine (and the impact of sanctions and trade
restrictions imposed as a result thereof); unpredictable
fluctuations in quarterly revenue and operating results; increases
in tariffs, trade restrictions or taxes on the Company's products;
the impact of restructuring and cost-containment activities;
operational disruptions at facilities located in Israel including as a result of military
call-ups of the Company's employees in Israel, closure of the offices there or the
temporary or long-term closure of contract manufacturing in the
region; the potential impact of litigation; risks related to supply
chain disruptions, including as a result of component availability;
risks resulting from higher interests rates and continued
inflationary pressures; risks related to cybersecurity and data
intrusion; failure to compete successfully against
telecommunications equipment and networking companies; failure to
grow the Company's customer base or generate recurring business
from existing customers; credit risks; the timing of customer
purchasing decisions and the Company's recognition of revenues;
macroeconomic conditions, including inflation; market acceptance of
the Company's products and services; rapid technological and market
change; the ability to protect Company intellectual property rights
and obtain necessary licenses; the ability to maintain partner,
reseller, distribution and vendor support and supply relationships;
the potential for defects in the Company's products; and currency
fluctuations.
These factors are not intended to be an all-encompassing list of
risks and uncertainties that may affect the Company's business and
results from operations. Additional information regarding these and
other factors can be found in the Company's reports filed with the
Securities and Exchange Commission, including, without limitation,
its Form 10-K for the year ended December
31, 2023. In providing forward-looking statements, the
Company expressly disclaims any obligation to update these
statements publicly or otherwise, whether as a result of new
information, future events or otherwise, except as required by
law.
Investor Contact
+1 (978) 614-8050
ir@rbbn.com
Media Contact
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com
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SOURCE Ribbon Communications Inc.