|UniTek Global Services Announces Changes to Senior Management and Board of Directors
BLUE BELL, Pa., Jan. 11, 2012 (GLOBE NEWSWIRE) -- Today, the Board of
Directors of UniTek Global Services, Inc. (Nasdaq:UNTK), a premier
provider of permanently outsourced infrastructure services to the
wireless and wireline telecommunications, public safety, broadband
cable and satellite television industries, announced a leadership
change for the Company.
Chief Executive Officer C. Scott Hisey and President and Chairman of
the Board Peter Giacalone have resigned from their positions as
officers of the Company. Additionally, Mr. Giacalone has resigned from
the Company's Board of Directors. Their resignations were accepted by
mutual agreement by the Board, and are effective immediately. Mr. Hisey
remains a Board member.
The Board of Directors has formed an interim Office of CEO to be
co-managed by Dan Yannantuono, CEO of DirectSat, a division of UniTek,
and Ronald J. Lejman, CFO and treasurer of UniTek. Mr. Hisey will
remain active with the Company as a special consultant, working as a
key liaison with customers, helping to ensure a smooth leadership
transition and engaging in business development activities. The
Company's Board of Directors has commenced an executive search for a
new permanent CEO.
Mr. Hisey said, "I'm proud of our accomplishments at UniTek, having
taken the company from a start-up in 2004 to the strong public company
it is today. While I have tremendous loyalty to our colleagues,
customers and investors who have believed in me, I am an entrepreneur
at heart and my passion is to start companies and bring them to scale.
I have done that with UniTek and the Company is now ready for a new CEO
to continue its growth. I look forward to continuing to support UniTek
as a consultant, a board member and an interested shareholder."
Mr. Giacalone said, "We've done great things at UniTek. During my
tenure we sold a portion of 180 Connect to UniTek to expand the
Company's national footprint. We diversified the business by entering
the wireless and public safety sectors, and we took the Company public
on NASDAQ. Now that the recapitalization of the Company is complete,
this is an ideal time for me to explore other opportunities in my
Newly elected independent Board Chairman Michael F. O'Donnell made the
announcement, saying, "We're grateful to Scott and Peter for their
leadership of this Company. UniTek has become a major player in the
installation and service of telecommunication infrastructure in large
part due to their passion and vision. We believe UniTek is poised for
additional growth and is ready for new leadership to take the company
to the next level."
O'Donnell added, "We have complete confidence in the ability of Ron and
Dan to share CEO responsibilities and to successfully implement the
current business plan. They both have proven track records and deep
knowledge of all key aspects of our strategy and operations, and we're
fortunate to have them ready to step in and assume the interim
Mr. O'Donnell, age 65, has been a member of the board since December
2010, and is a financial expert with 40 years of experience in the
audit and consulting industries. He is the founding managing director
of Protiviti, Inc., a global business consulting and internal audit
firm specializing in risk, advisory and transaction services.
Previously, Mr. O'Donnell spent 33 years at Arthur Andersen LLP in risk
consulting and audit services. Mr. O'Donnell is a graduate of Central
Michigan University where he received an Honorary Doctor of Commerce.
Mr. Yannantuono, age 38, has served as CEO of DirectSat USA, a key
UniTek business unit, since January 2010. Prior to that, he served as
President and Vice President of Operations for DirectSat beginning in
2005. During his tenure, DirectSat has grown to become one of the
largest contract partners for DIRECTV with over 2,000 technicians
nationwide. Prior to joining UniTek, Mr. Yannantuono was vice president
of finance for one of the largest fulfillment contractors in the cable
industry. Mr. Yannantuono received his undergraduate degree in business
and finance from Florida Atlantic University, and holds an MBA from
Mr. Lejman, age 43, has served as CFO of UniTek and its predecessor
since January 2008. Prior to his tenure at UniTek, Mr. Lejman was CFO
and COO of Freedom Enterprises, a Mid-Atlantic commercial construction
company. He has been CFO of several global organizations: The Stanley
Works Europe, Middle East and Africa, Stanley Bostitch and General
Fiber Communications, and served in a financial leadership capacity for
GE Capital and Amoco. Mr. Lejman received his undergraduate degree from
the University of Illinois and Masters of Management degree from
Northwestern University's Kellogg Graduate School of Management.
About UniTek Global Services
UniTek Global Services is a provider of engineering, construction
management and installation fulfillment services to companies
specializing in the telecommunications, broadband cable, wireless,
two-way radio, transportation, public safety and satellite industries.
UniTek has created a scalable operating platform, enabling each UniTek
subsidiary to deliver quality services to its Fortune 200 customers.
UniTek, based in Blue Bell, PA, utilizes a diverse workforce of over
6,500 deployed in over 108 locations in the United States and Canada.
For more information, visit www.unitekgs.com.
Forward Looking Statements
The Company may from time to time make written or oral "Forward-looking
statements," including statements contained in this release and in the
Company's filings with the Securities and Exchange Commission. These
forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, estimates, and intentions that are subject to
significant risks and uncertainties and are subject to change based on
various factors, many of which are beyond the Company's control. These
risks and uncertainties include the risk that the registration
statement never becomes effective and we are not able to conduct any
offering of securities in connections with the registration statement,
as well as other risk factors detailed from time to time in the
Company's filings with the Securities and Exchange Commission. The
words "may," "could," "should," "would," "believe," "are confident,"
"anticipate," "estimate," "expect," "intend," "plan" and similar
expressions are intended to identify forward-looking statements. All
such statements are made in good faith by the Company pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. The Company does not undertake to update any forward
looking statement, whether written or oral, which may be made from time
to time by or on behalf of the Company, except as may be required by
applicable law or regulations.
CONTACT: The Piacente Group, Inc. | Investor Relations