BROOMFIELD, Colo., Aug. 16 /PRNewswire-FirstCall/ -- Level 3 Communications, Inc. today announced that Douglas C. Eby and Michael J. Mahoney have been elected to the company's Board of Directors effective August 16, 2007.
Eby, 48, is chairman and CEO of TimePartners LLC, an investment advisory firm. He also serves as president of Torray LLC, an independent money management firm. Eby sits on the Boards of Directors of Markel Corporation, CBRE Realty Finance, Inc. and Suburban Healthcare System.
Mahoney, 57, was most recently the president and CEO of Commonwealth Telephone Enterprises. A telecommunications industry veteran, he was also president and COO of RCN Corporation, president and COO of C-TEC Corporation, and executive vice president and general manager of C-TEC Cable Systems. Mahoney sits on the Board of Trustees of Wilkes University.
"We are pleased to welcome Doug Eby and Mike Mahoney to the Level 3 board," said Walter Scott Jr., chairman of Level 3. "Both men have built long and distinguished careers in their respective fields. Doug is highly regarded in the financial community and we expect to benefit from his knowledge and insight to the financial markets. Mike has broad experience and knowledge of the telecommunications industry, and he will bring a valuable perspective to the company."
Both Eby's and Mahoney's Level 3 board terms will expire at the Annual Meeting of Stockholders in 2008. With these additions, the Level 3 board will have 11 directors.
About Level 3 Communications
Level 3 Communications, Inc. , an international communications company, operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, content delivery and media distribution services. These services provide the building blocks to enable Level 3's customers to meet their growing demands for advanced communications solutions. The company's Web address is http://www.level3.com/.
"Level 3 Communications," "Level 3," the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein may be trademarks or service marks of their respective owners.
Forward-Looking Statement
Some of the statements that we make in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside our control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent us from achieving our stated goals include, but are not limited to our ability to: successfully integrate acquisitions; increase the volume of traffic on our network; defend our intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of our debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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