Effective upon completion of the acquisition of Level 3
Communications
MONROE, Louisiana, April 28, 2017 /PRNewswire/ -- Glen F. Post III, chief executive officer and
president of CenturyLink, Inc. (NYSE: CTL), today announced the
senior leadership team that will report to him effective at the
time of closing of the company's acquisition of Level 3
Communications, Inc. (NYSE: LVLT).
"We have assembled an incredibly talented and experienced
executive team that is well positioned to lead the combined company
and drive our increased enterprise focus," Post said. "With the
assets we will have as a result of this strategic combination and
with this leadership team in place at closing, we believe we will
be positioned to deliver strong performance not only in
the United States, but also in our
expanded markets globally."
The senior leadership team will include:
- Clay Bailey, senior vice president, transformation, who will
lead the integration of CenturyLink and Level 3, and automation and
simplification in the combined company.
- Dean Douglas, executive vice president, North America enterprise, who will be
responsible for sales, revenue generation and enterprise service
delivery in the company's North American markets. He also will have
responsibility for the company's national/business
technicians.
- Gary Gauba, senior vice president, chief relationship officer,
who will be responsible for building strong, trust-based
relationships with the C-suite executives of the company's top
customers and also will continue to lead the advanced solutions
group.
- Stacey Goff, executive vice president, general counsel and
chief administrative officer, who will lead the company's legal,
corporate strategy, business development and mergers and
acquisitions functions.
- Aamir Hussain, executive vice president, chief technology
officer and network operations, who will be responsible for product
development, platforms and infrastructure and information
technology.
- Maxine Moreau, executive vice president, consumer, who will be
responsible for sales, marketing and service delivery for the
company's local market consumer operations in 37 states, including
field technicians.
- Laurinda Pang, executive vice president, global accounts
management and international, who will be responsible for sales,
revenue generation and enterprise service delivery for the
company's top global accounts and for the company's APAC, EMEA and
LATAM markets.
- Sunit Patel, executive vice president, chief financial officer,
as previously announced, who will be responsible for the company's
domestic and international finance and accounting functions.
- Scott Trezise, executive vice president, human resources, who
will lead all domestic and international human resources
functions.
- Girish Varma, executive vice president, IT and managed
services, who will be responsible for technology/strategic
consulting, big data, managed security services and managed
hosting.
- In addition, Post plans to name an executive vice president,
chief marketing officer at a later date.
CenturyLink previously announced that shareholders of both
companies as well as several states have already approved or
cleared the company's acquisition of Level 3. The company continues
to anticipate closing the transaction by the end of third quarter
2017.
About CenturyLink
CenturyLink (NYSE: CTL) is a global communications, hosting,
cloud and IT services company enabling millions of customers to
transform their businesses and their lives through innovative
technology solutions. CenturyLink offers network and data systems
management, big data analytics and IT consulting, and operates more
than 55 data centers in North
America, Europe and
Asia. The company provides
broadband, voice, video, data and managed services over a robust
250,000-route-mile U.S. fiber network and a 300,000-route-mile
international transport network. Visit CenturyLink for more
information.
Forward Looking Statements
Except for the historical and factual information contained
herein, the matters set forth in this communication, including
statements regarding the expected timing and benefits of the
proposed transaction, such as efficiencies, cost savings, enhanced
revenues, growth potential, market profile and financial strength,
and the competitive ability and position of the combined company,
and other statements identified by words such as "will,"
"estimates," "anticipates," "believes," "expects," "projects,"
"plans," "intends," "may," "should," "could," "seeks" and similar
expressions, are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions, many
of which are beyond our control. These forward-looking
statements, and the assumptions upon which they are based, (i) are
not guarantees of future results, (ii) are inherently speculative
and (iii) are subject to a number of risks and uncertainties.
Actual events and results may differ materially from those
anticipated, estimated, projected or implied in those statements if
one or more of these risks or uncertainties materialize, or if
underlying assumptions prove incorrect. Factors that could affect
actual results include but are not limited to: the ability of
the parties to timely and successfully receive the required
approvals for the combination from regulatory agencies free of
conditions materially adverse to the parties; the possibility that
the anticipated benefits from the proposed transaction cannot be
fully realized or may take longer to realize than expected; the
possibility that costs, difficulties or disruptions related to the
integration of Level 3's operations with those of CenturyLink
will be greater than expected; the ability of the combined company
to retain and hire key personnel, including reaching or maintaining
mutually acceptable employment arrangements with the executives
named above; the effects of competition from a wide variety of
competitive providers, including lower demand for CenturyLink's
legacy offerings; the effects of new, emerging or competing
technologies, including those that could make the combined
company's products less desirable or obsolete; the effects of
ongoing changes in the regulation of the communications industry,
including the outcome of regulatory or judicial proceedings
relating to intercarrier compensation, interconnection obligations,
access charges, universal service, broadband deployment, data
protection and net neutrality; adverse changes in CenturyLink's or
the combined company's access to credit markets on favorable terms,
whether caused by changes in its financial position, lower debt
credit ratings, unstable markets or otherwise; the combined
company's ability to effectively adjust to changes in the
communications industry, and changes in the composition of its
markets and product mix; possible changes in the demand for, or
pricing of, the combined company's products and services, including
the combined company's ability to effectively respond to increased
demand for high-speed broadband service; changes in the operating
plans, capital allocation plans or corporate strategies of the
combined company, whether based on changes in market conditions,
changes in the cash flows or financial position of the combined
company, or otherwise; the combined company's ability to
successfully maintain the quality and profitability of its existing
product and service offerings and to introduce new offerings on a
timely and cost-effective basis; the adverse impact on the combined
company's business and network from possible equipment failures,
service outages, security breaches or similar events impacting its
network; the combined company's ability to maintain favorable
relations with key business partners, suppliers, vendors, landlords
and financial institutions; the ability of the combined company to
utilize net operating losses in amounts projected; changes in the
future cash requirements of the combined company; and other risk
factors and cautionary statements as detailed from time to time in
each of CenturyLink's and Level 3's reports filed with the U.S.
Securities and Exchange Commission (the "SEC"). Due to these risks
and uncertainties, there can be no assurance that the proposed
combination or any other transaction described above will in fact
be completed in the manner described or at all. You should be
aware that new factors may emerge from time to time and it is not
possible for us to identify all such factors nor can we predict the
impact of each such factor on the proposed combination or the
combined company. You should not place undue reliance on
these forward‑looking statements, which speak only as of the date
of this communication. Unless legally required, CenturyLink
and Level 3 undertake no obligation and each expressly
disclaim any such obligation, to update publicly any
forward-looking statements, whether as a result of new information,
future events, changed events or otherwise.
Additional Information
In connection with the proposed combination, CenturyLink filed a
registration statement on Form S-4 with the SEC (Registration
Statement No. 333-215121) which was declared effective by the SEC
on February 13, 2017.
CenturyLink and Level 3 have filed a joint proxy
statement/prospectus and will file other relevant documents
concerning the proposed transaction with the SEC. CenturyLink and
Level 3 began mailing the definitive joint proxy
statement/prospectus to their respective security holders on or
about February 13, 2017. The
definitive joint proxy statement/prospectus, dated as of
February 13, 2017, contains important
information about CenturyLink, Level 3, the proposed combination
and related matters. INVESTORS AND SECURITY HOLDERS ARE URGED
TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND ANY
OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE
PROPOSED COMBINATION OR INCORPORATED BY REFERENCE IN THE DEFINITIVE
JOINT PROXY STATEMENT/PROSPECTUS CAREFULLY BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. Investors and security holders may obtain
the definitive joint proxy statement/prospectus and the filings
that are incorporated by reference in the definitive joint proxy
statement/prospectus, as well as other filings containing
information about CenturyLink and Level 3, free of charge, at the
website maintained by the SEC at www.sec.gov. Investors and
security holders may also obtain these documents free of charge by
directing a request to CenturyLink, 100 CenturyLink Drive,
Monroe, Louisiana 71203,
Attention: Corporate Secretary, or to Level 3, 1025 Eldorado
Boulevard, Broomfield, Colorado
80021, Attention: Investor Relations.
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