IDT announced yesterday a whole bunch of internal executive changes in the
company. Does not look like they are infusing any new blood into the mix but
rather just shuffling around a whole bunch of executives! Brace yourself as I am
now going to try and describe the changes.
Yonah Katz Former CEO if IDT Telecom is now COO of IDT Telecom
Motti Lichtenstein Former COO of IDT Corporation is now CEO of IDT Telecom, a
postion he held once before.
Mikhail Leibov Former head of Corbina (Russian IDT Venture) will step into the
newly created position as President of IDT Telecom
Marcelo Fischer Former IDT Corporation CFO is now the CFO of Telecom
Ely Tendler Former General Counsel for IDT Corporation now goes back to being
Chief General Counsel of IDT Telecom, a position he held once before
Steve Brown Former CFO of IDT Corporation is now COO of IDT Corporation
I might have missed someone but for the most part it looks as if IDT is making a
play to solidify its Telecom division as more of an independent entity so they
can better position it on the market as an independent asset that can be
leveraged or maybe even sold on the open market. Hey I would never put these two
things past Mr. Jonas based on his past success with flipping companies.
They also announced that executive compensations were being more closely tied to
better performance, which I guess means they are all getting a pay cut until the
company does better. I guess its only fair considering they have been laying
off people like flies in recent years.