McLeodUSA Board Elects Two New Directors
CEDAR RAPIDS, Iowa, Feb 25, 2004 (BUSINESS WIRE) -- McLeodUSA Incorporated (Nasdaq:MCLD):
-- David W. Checketts, Chairman, Sports Capital Partners
-- Roger T. Staubach, Chairman & Chief Executive Officer, The Staubach Company
McLeodUSA Incorporated (Nasdaq:MCLD), one of the nation's largest independent, competitive telecommunications services providers, today announced that it has elected David W. Checketts, Chairman of Sports Capital Partners and former President and CEO of Madison Square Garden, and Roger T. Staubach, Chairman and CEO of The Staubach Company, to its Board of Directors.
Chris A. Davis, Chairman and CEO of McLeodUSA, said, "We are very pleased to have Dave Checketts and Roger Staubach join our Board of Directors. This is another example of Ted Forstmann's commitment to attracting world-class leadership to the McLeodUSA Board. Both Dave and Roger have extensive business experience and broad executive relationships, which will be valuable to McLeodUSA as we continue to execute on our focused business strategy to provide a world-class customer experience and profitably grow revenue in our 25-state footprint."
McLeodUSA's 17-member Board now includes 11 current or former chief executives. In addition to Ted Forstmann, who is Chairman of the Executive Committee and Senior Partner of Forstmann Little & Co., the Board includes the following non-management Directors: Jeff Benjamin, Senior Advisor, Apollo Management; Ed Breen, Chairman and Chief Executive Officer of Tyco International Ltd.; Tom Collins, Of Counsel at Shuttleworth & Ingersoll, P.C.; Dale Frey, Former Chairman and Chief Executive Officer of General Electric Investment Corporation and Vice President and Treasurer of General Electric; Jim Hoffman, Executive Vice President of Alliant Energy Corporation; Jeong H. Kim, Chief Executive Officer of Yurie Holdings and former President of the Optical Networking Group at Lucent Technologies; Tom Lister, General Partner of Forstmann Little & Co.; Dan Snyder, Owner and Chairman of the Board of The Washington Redskins; Farid Suleman, Chairman and Chief Executive Officer of Citadel Communications; Peter Ueberroth, Managing Director of The Contrarian Group, Inc. and Owner and Co-Chairman of Pebble Beach Company; and Juan Villalonga, former Chairman and Chief Executive Officer of Telefonica Group.
Biography of New Directors
David W. Checketts is currently Chairman of Sports Capital Partners, a consulting and investment capital firm. From 1994 to 2001, Mr. Checketts was President and Chief Executive Officer of Madison Square Garden. From March 1991 to September 1994, Mr. Checketts was the President of the New York Knicks basketball team. From September 1990 to March 1991, he was Vice President of Development for the National Basketball Association. From 1984 to 1990, Mr. Checketts was President of the Utah Jazz basketball team. Dave serves on the board of directors of Citadel Broadcasting and JetBlue Airways Corporation.
Roger T. Staubach is Chairman and Chief Executive Officer of The Staubach Company, a global, full-service real estate advisory firm that delivers cost effective solutions for users of office, industrial and retail space. A 1965 graduate of the United States Naval Academy with a bachelor of science in engineering, Roger spent four years in the Navy as an officer. He joined the Dallas Cowboys professional football team as a quarterback in 1969 and launched his real estate career while playing football. Roger currently serves on the boards of directors of AMR Corporation, the parent of American Airlines, and Brinker International.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest, Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based telecommunications provider with, as of December 31, 2003, 38 ATM switches, 44 voice switches, 663 collocations, 435 DSLAMs and 3,119 employees. On April 16, 2002, Forstmann Little & Co. became a 58% shareholder in the Company. Visit the Company's website at mcleodusa.com.
Some of the statements in this press release include statements about our future expectations. Statements that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Exchange Act and Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals, including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. These forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to differ materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our predictions. Factors that could cause actual results to differ materially from the forward-looking statement include technological, regulatory, public policy or other developments in our industry, availability and adequacy of capital resources, current and future economic conditions, the existence of strategic alliances, our ability to generate cash, our ability to implement process and network improvements, our ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and changes in the competitive climate in which we operate. These and other risks are described in more detail in our most recent Annual Report on Form 10-K and Form 10-K/A both filed with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
SOURCE: McLeodUSA Incorporated
McLeodUSA Incorporated, Cedar Rapids
Investor Contact:
Bryce Nemitz, 319-790-7800
or
Press Contact:
Bruce Tiemann, 319-790-7800
