SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JUNE 15, 1998
GST Telecommunications, Inc.
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(Exact name of registrant as specified in its charter)
Canada 1-12866 N/A
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4001 Main Street, Vancouver, Washington 98663
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (360) 906-7100
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On June 15, 1998, GST Telecommunications, Inc. (the "Company") issued a
press release announcing that John Warta has retired as Chairman of the Board
and Chief Executive Officer of the Company. Mr. Warta remains a director of the
Company. The Board of Directors of the Company has appointed Robert Ferchat,
presently a director of the Company and Chairman of BCE Mobile Communications,
Inc., to the position of Chairman of the Board of the Company and Joseph Basile,
presently President, Chief Operating Officer and a director of the Company, as
acting Chief Executive Officer.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) EXHIBITS.
99.1 Press Release of GST Telecommunications, Inc. dated June
15, 1998.
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SIGNATURE
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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.
GST TELECOMMUNICATIONS, INC.
Dated: June 18, 1998 By: /s/ Stephen Irwin
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Stephen Irwin
Vice Chairman of the Board and
Secretary
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John Warta Retires as Chairman and CEO of
GST Telecommunications, Inc.
Board Appoints Joseph A. Basile Jr. as Acting CEO
VANCOUVER, Wash., June 15 /PRNewswire/ -- The Board of Directors of GST
Telecommunications Inc. (AMEX:GST - news; Nasdaq: GSTX - news) today announced
that Mr. John Warta has advised the Board of his decision to retire as Chairman
and Chief Executive Officer. Mr. Warta will continue as a director. In response
to Mr. Warta's decision to retire, the Board has appointed Mr. Robert Ferchat, a
director of GST, to the position of Chairman. The Board has also appointed Mr.
Joseph A. Basile Jr., current President and Chief Operating Officer to the
additional position of Acting CEO.
The Board expresses its sincere appreciation to Mr. Warta for the important role
he has played in the development of GST's business. ``We appreciate the
opportunity John has afforded us through the formation and development of GST
along with his visionary leadership in the key formative years of our company,''
commented Mr. Basile.
``I have spent the past 12 years leading the development of competitive
telephone companies, starting with Electric Lightwave in 1987 through June,
1993, and from then with GST. GST is the leading CLEC in the western U.S. and is
well positioned for growth. With the loss of a very close personal friend and
co-founder of ELI, Earl Kamsky last month, I have decided to spend more time
with my family and perhaps in the future assist other entrepreneurial companies
as a Board member and investor,'' commented Mr. Warta.
Mr. Ferchat, current Chairman and Chief Executive Officer of BCE Mobile
Communications, a Bell Canada affiliate, has more than 30 years of senior
management experience. Previous to his present position, he was Chairman,
President and CEO of TMI Communications, and before that President and Chief
Executive Officer of Northern Telecom Canada Limited.
Mr. Basile, with over 17 years of telecommunications management experience, has
been President and Chief Operating Officer of GST since March 1997. Prior to
joining GST, he was COO of Cable & Wireless, Inc.
``GST has made substantial progress in the deployment of infrastructure and has
had particularly strong growth of revenues and access lines during the past six
months,'' said Basile. ``We are continuing our efforts and focus on the growth
of core voice, data and internet services within our targeted footprint to
enable us to achieve EBITDA breakeven,'' he added. ``We remain very bullish on
our current progress
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and the future of GST.''
GST Telecommunications, Inc., headquartered in Vancouver, Wash., currently
operates Competitive Local Exchange Carrier (CLEC) operations on an integrated
fiber network throughout the western United States and Hawaii. Facilities-based
GST provides a broad range of telecommunications products and services including
local dial tone, long distance, Internet, and enhanced data services such as
electronic commerce. GST continues to focus on its western regional strategy by
anchoring its CLEC networks in local markets and connecting them via long haul
fiber networks. Visit GST's web site at www.gstcorp.com.
