SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report April 22, 1999
(Date of earliest event reported) (April 21, 1999)
CTC COMMUNICATIONS CORP.
(Exact name of registrant as specified in its charter)
Massachusetts 0-13627 04-2731202
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
360 Second Ave., Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 466-8080
(Registrant's telephone number including area code)
(Former name or former address if changed since last
report)
<PAGE>
Item 5. Other Events
On April 21, 1999, the Registrant issued the following press release:
"CTC Communications Corp. Announces Executive Changes
WALTHAM, Mass.--April 21, 1999--CTC Communications Corp. (NASDAQ NNM:CPTL)
announced today that Steven C. Jones, Executive Vice President and Chief
Financial Officer is resigning to pursue other interests and that John D.
Pittenger, Executive Vice President - Finance and Administration will assume
Mr. Jones' responsibilities.
Robert J. Fabbricatore, Chairman of the Board and CEO of CTC stated, "Steve
has been with us through a remarkable year of transition and growth. He
played a critical and key role in CTC's transition to a Data C-LEC and was
instrumental in enabling the design and deployment of CTC's Integrated
Communications Network (ICN). Steve is a talented and energetic executive who
has contributed substantially to CTC's success to date and we wish him well
in the future. After four years of commuting to work from south Florida,
where his family resides, we certainly understand his decision and fully
support him in this transition."
Fabbricatore continued, "John Pittenger has worked closely with Steve over
the past year and is the ideal person to assume CFO responsibilities. John
holds an undergraduate degree from Dartmouth and an MBA from Babson College,
has been with CTC for 18 years, and is well grounded in finance and CTC's
partners in the financial community."
Fabbricatore further stated, "Over the past year CTC has transitioned to a
Data C-LEC and is currently installing a state of the art, CISCO Powered,
Data Centric, Integrated Communications Network (ICN) scheduled for service
this summer. CTC's ICN Network is ATM based and provides a world class
platform accommodating all of today's data services as well as voice and data
integration, DSL technologies, e-commerce and a suite of value added data
products and services."
Mr. Jones stated, "I am very proud to have contributed to the CTC success
story. I have never seen an organization plan and manage this level of change
so successfully in a one year period. In fact, CTC exceeded all of the
milestones and goals that were set when we embarked upon the Data C-LEC
strategy and transition. The Company's customer- focused culture coupled with
its ICN data strategy position it extremely well for continued rapid growth
and ongoing success as a data C-LEC."
In order to ensure a smooth transition, Mr. Jones will act in an informal
advisory capacity to CTC and Mr. Pittenger over the near term. On May 3,
1999, Mr. Jones will assume the role of Executive Vice President and Chief
Financial Officer of Fiera, Inc., a privately owned Internet portal company
based in Miami Beach, Florida that focuses on serving the Latin American and
Hispanic population worldwide.
<PAGE>
CTC is a rapidly growing provider of integrated communications solutions to
medium and large sized business customers in the Northeast U.S. It provides
an extensive array of voice and data services including local, long distance,
frame relay, Internet access and other advanced data services. The company
markets its services through its 175 member direct sales force located in 25
branch offices throughout Maine, New Hampshire, Vermont, Massachusetts, Rhode
Island, Connecticut, New York and Maryland. Company headquarters are in
Waltham, Massachusetts and CTC can be found on the worldwide web at
www.ctcnet.com.
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. Readers are, accordingly,
cautioned not to place undue reliance on these forward-looking statements,
which speak only as to the date hereof. Additional information about these
risks and uncertainties is set forth in the Company's most recent report on
Form 10-K. CTC undertakes no obligation to release publicly the results of
any revisions to these forward-looking statements that may be made to reflect
results, events or circumstances after the date hereof.
CONTACT: CTC Communications Corp.
John D. Pittenger, (781) 466-1302
www.ctcnet.com"
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
CTC COMMUNICATIONS CORP.
(Registrant)
By: /s/ John D. Pittenger
John D. Pittenger,
Executive Vice President,
Finance and Administration
April 22, 1999
