BOULDER, Colo. –
Today, Zayo Group Holdings, Inc. (NYSE: ZAYO) announced that Edward (Ed)
Morche resigned from the company to rejoin Level 3 Communications,
ending his tenure at Zayo after approximately one month.
During Morche’s short tenure at Zayo, the feedback he provided to Zayo’s
executives, investors and board was positive about Zayo’s culture, its
strategic direction and tactical execution, its sales momentum and the
strength of its relationships with its customers. Morche cited an
enhanced compensation package and expanded scope of responsibility as
the sole reasons for his departure.
Zayo’s net bookings for the Mar17q were $6.9M (excluding Allstream),
which reflected a strong recovery from the Dec16q. In Zayo’s May 9, 2017
earnings call, Zayo expressed confidence that this positive Net Bookings
momentum would continue. Zayo re-affirms this expectation.
“Ed’s positive feedback on our sales situation matches my assessment,”
said Andrew Crouch, president and COO at Zayo. “Unlike what is often the
norm in telecom, Zayo’s major customers are pleased with the solutions
provided by Zayo and the overall customer experience we deliver. The
opportunity at hand is to serve a larger number of bandwidth-intensive
customers across the broader spectrum of Zayo’s Communications
Infrastructure product portfolio.”
“We are encouraged by our near-term results while recognizing our fiber
and colocation platform, industry consolidation and the fundamental
demand for bandwidth is creating an increased opportunity for us,” added
Dan Caruso, chairman and CEO at Zayo. “Our commitment to strengthen
Zayo’s sales and marketing competency is so that we can capture this
enhanced opportunity.”
Given the short amount of time that Morche was with Zayo, little will
change in the near-term plans. Max Clauson, a seasoned Zayo executive
who had been leading Zayo’s sales efforts over the quarters prior to
Morche’s arrival, and who had remained directly engaged with that team
over the past month, will continue to have overall responsibility for
sales and lead the team as he had been doing previously.
For more information about Zayo, please visit zayo.com.
About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides communications
infrastructure services, including fiber and bandwidth connectivity,
colocation and cloud infrastructure to the world’s leading businesses.
Customers include wireless and wireline carriers, media and content
companies and finance, healthcare and other large enterprises. Zayo’s
122,000-mile network in North America and Europe includes extensive
metro connectivity to thousands of buildings and data centers. In
addition to high-capacity dark fiber, wavelength, Ethernet and other
connectivity solutions, Zayo offers colocation and cloud infrastructure
in its carrier-neutral data centers. Zayo provides clients with
flexible, customized solutions and self-service through Tranzact, an
innovative online platform for managing and purchasing bandwidth and
services. For more information, visit zayo.com.
Forward Looking Statements
This press release contains a number of forward-looking statements.
Words, and variations of words such as “believe,” “expect,” “plan,”
“continue,” “will,” “should,” and similar expressions are intended to
identify our forward-looking statements. No assurance can be given that
future results expressed or implied by the forward-looking statements
will be achieved and actual results may differ materially from those
contemplated by the forward-looking statements. These forward-looking
statements involve risks and uncertainties, many of which are beyond our
control. For additional information on these and other factors that
could affect our forward-looking statements, see our risk factors, as
they may be amended from time to time, set forth in our filings with the
SEC, including our 10-K dated August 25, 2016. We disclaim and do not
undertake any obligation to update or revise any forward-looking
statement in this press release, except as required by applicable law or
regulation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170622005637/en/
Zayo Group Holdings, Inc.
Media:
Shannon Paulk, Corporate
Communications
303-577-5897
press@www.zayo.com
or
Investors:
Brad
Korch, Investor Relations
720-306-7556
IR@www.zayo.com