justfrank, shrinkdew: Perhaps it's Thomas Jiminez coming out of retirement after a health improvement? Perhaps Lynch took on too much with his expanded role, and got stretched to the point of making some boo boos, perhaps ommissive due to lack of awareness?:
GlobeTel Communications' COO Lawrence Lynch's Expanded Role to Include Chief Financial Officer Responsibilities
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--April 10, 2006--GlobeTel Communications Corp. (AMEX:GTE) announced that Chief Operating Officer Lawrence Lynch has been appointed acting Chief Financial Officer, succeeding Thomas Jimenez who has retired for health reasons. Mr. Lynch will continue his responsibilities as Chief Operating Officer during this period, although it is the company's intention to appoint an equally accomplished professional to the permanent CFO position as soon as the recruiting process can be comfortably completed.
Mr. Lynch, former Chief Financial Officer for First Data Corporation - Latin America, has over 25 years experience in accounting, banking and card-related products. He began his career as an officer for the Irving Trust Company (now Bank of New York) and later as a Vice President of Security Pacific National Trust Company. In addition, Mr. Lynch has owned and operated several successful "acquiring-and-issuing" card companies in the United States and in Mexico. Mr. Lynch has a Bachelor of Science degree in Economics from Hofstra University, New York and an MBA from Adelphi University, New York. His significant international experience, coupled with his operational, financial and strategic planning capabilities are very beneficial to GlobeTel as it expands its presence in foreign markets. Mr. Lynch, his wife and seven children call South Florida home.
Timothy Huff, GlobeTel's Chief Executive Officer stated, "I would like to thank Tom Jimenez for nearly seven years of service to our Company. He's been instrumental in helping forge the future of the Company and getting us to where we are today. He has been a valuable asset and will be missed. We all wish him the very best as he manages the new set of challenges in his life."
Mr. Huff continued, "Larry Lynch's range of competencies is impressive. He has been a dynamic Chief Operating Officer since joining us almost two years ago. He has been a highly successful CFO at a major international financial services company and fully understands the complexities of today's public accounting environment. We're very comfortable with Larry assuming the duties of CFO until we're able to identify a suitable long term Chief Financial Officer."
About GlobeTel Communications Corp.
GlobeTel Communications Corp. develops and provides an integrated suite of telecommunications products and services, leveraging its advances in Stored Value, VOIP and Wireless Access technologies. Individually, each of GlobeTel's five business units function as distinct, strong stand-alone entities: Together they form a powerful alliance of human talent and technological innovation resulting in the SuperHub(TM) worldwide VoIP network, Sanswire Stratellite(TM) platform and products enabling simpler, cheaper transmission of voice, data and money. GlobeTel has historically focused its business development on markets outside of the United States. Current and pending operations exist in Asia, Europe, South America, Mexico and the Caribbean.
For more information, please visit: www.globetel.net.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
CONTACT: GlobeTel Communications Corp.
Director of Investor Relations
Robert Bleckman, 954-775-1427
SOURCE: GlobeTel Communications Corp.
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