EXHIBIT 99.2
Thursday August 3, 8:29 am Eastern Time
Press Release
SOURCE: RSL Communications, Ltd.
RSL COM Announces Senior Management Changes
Names Paul B. Domorski President & CEO
HAMILTON, Bermuda and NEW YORK, Aug. 3 /PRNewswire/ -- RSL Communications, Ltd.
(Nasdaq: RSLC - news), a leading provider of integrated data, Internet and voice
telecommunications services in Europe and the U.S., today announced the
appointment of Paul B. Domorski as President and CEO. Mr. Domorski, formerly
President of British Telecom Syncordia Solutions, succeeds Itzhak Fisher, who
will remain as a consultant to the board of directors of the Company.
As the President and CEO, Mr. Domorski will have full responsibility for
orchestrating the Company's strategy including the implementation of its
European and U.S. growth plans.
Mr. Domorski comes from British Telecom Syncordia Solutions where he was
president since 1997. Syncordia is BT's worldwide value-added solutions
business, covering outsourcing, network integration, consultancy, customer
relationship management and e-commerce. Mr. Domorski's first responsibility as
president was to consolidate six operations within BT to become Syncordia.
Thereafter, he grew the business to nearly $2 billion in revenue and 7,000
employees and moved the business from a start-up to an aggressive player in the
Internet and e-commerce market. Prior to joining BT, Mr. Domorski had extensive
international operational experience with Unisys where he turned a declining
operation in Europe and Africa into a rapidly growing one by being an early
provider of network integration and other value-added computing services.
Earlier in his career with Unisys, he held various management and financial
positions, restoring flagging businesses, improving financial performance,
growing the customer base, introducing new products and streamlining management
processes and structures.
His initial mandate at RSL COM will be to improve operational efficiencies and
financial performance plus contain costs. Mr. Domorski will guide the Company's
transformation and pursue an integrated services strategy of providing data and
Internet-centric bundled services to small and medium sized enterprises. His
wealth of experience in international telecommunications will enable RSL COM to
achieve the Company's stated objectives of focusing on its core markets and
moving rapidly into introducing additional data and Internet products. Mr.
Domorski will be located in London, England and expects to start on August 21.
Itzhak Fisher, co-founder and RSL COM President and CEO since 1994, said, "I
believe that Paul will take the Company to the next level. It is the right time
to make the change and the right person for the job." Mr. Fisher will resign
from the board of directors but will remain as a consultant to the board and
assist Mr. Domorski in ensuring a smooth transition.
In addition, Donald R. Shassian, Chief Operating Officer and former Chief
Financial Officer of RSL COM, will be leaving the Company. He believes that the
COO position should be located in Europe so that the individual can work closely
with Mr. Domorski. Mr. Shassian does not wish to re-locate to Europe for family
reasons and, accordingly, will be leaving RSL COM after a transition period to
pursue other opportunities.
In a related move, Jacob Z. Schuster will assist in providing continuity to the
organization through the transition period. Mr. Schuster has served as an RSL
COM board member since 1994, was the CFO and Treasurer of RSL COM and previously
was a General Partner and Treasurer of Goldman Sachs & Co. Ronald S. Lauder,
co-founder and Chairman of RSL COM said, "When Itzhak and I founded RSL COM six
years ago, he saw the opportunities presented by deregulation, seized the
first-to-market advantage and built a global enterprise that spanned twenty-two
countries. It was under his stewardship that RSL COM became a company which
generates $1.5 billion with 1.3 million customers around the world and I am
personally grateful for his contributions to the business." "I would also like
to thank Don Shassian for all of his contributions these past eighteen months in
helping to develop the current strategy, begin its implementation in Europe and
the U.S. and in enhancing our finance capabilities. I regret his decision to
leave the Company," said Mr. Lauder.
"With his background of successfully operating businesses in Europe and the
U.S., Paul is the ideal candidate to lead RSL COM through the next evolution and
to realize the Company's fullest potential," continued Mr. Lauder. "Paul's
proven experience in directing companies to achieve operational effectiveness,
his demonstrated ability for meeting targets and obvious talent for identifying
future growth opportunities are precisely what RSL COM needs now to ensure its
future success. I have every confidence that Paul will execute well on our
strategic objectives."
RSL Communications, Ltd. is a facilities-based communications company that
provides a broad range of data and Internet, voice and value-added service
solutions primarily to small and medium sized businesses and residential
customers in selected markets around the globe. Through its subsidiary,
deltathree.com, RSL COM also owns and operates a privately managed Internet
Protocol telephone network with 71 points of presence in 36 countries. For
additional information on RSL Communications, Ltd. visit the website at
http://www.rslcom.com .
This press release contains forward-looking statements within the meaning of the
"Safe Harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are based on management's current expectations or beliefs
and are subject to a number of risks and uncertainties that could cause actual
results to differ materially from those set forth in the forward-looking
statements. For a detailed discussion of these cautionary statements, risk
factors and uncertainties please refer to the Company's filings with the
Securities and Exchange Commission.
SOURCE: RSL Communications, Ltd.
