TerreStar Promotes Epstein and Loiacono
16 Febbraio 2010 - 2:00PM
PR Newswire (US)
RESTON, Va., Feb. 16 /PRNewswire/ -- TerreStar Corporation
(NASDAQ:TSTR) today announced that Jeffrey W. Epstein has added
Chief Executive Officer duties to his position at TerreStar
Corporation and its subsidiaries, and will assume the title of
President & CEO, effective immediately. Mr. Epstein has served
as President of TerreStar since April 2008. "The Board is pleased
to recognize Jeff's achievements and talents by promoting him to
Chief Executive Officer," said William Freeman, Chairman of the
TerreStar Board of Directors. "Since Jeff's elevation to President
in April 2008 he has shown that he has the vision and leadership to
take TerreStar into its next phase of growth - becoming the first
fully operational integrated satellite/terrestrial network
provider." The Board of Directors also promoted Vincent Loiacono to
Chief Financial Officer of TerreStar Corporation and its
subsidiaries, effectively immediately. Mr. Loiacono has been
TerreStar's Chief Accounting Officer since November 2008. "Working
with Vince over the last year has demonstrated that he has the
expertise and commitment necessary for TerreStar's Chief Financial
Officer," said Jeffrey Epstein, President & CEO of TerreStar.
"Vince will help us execute against a sound corporate financial
plan, creating long-term shareholder value as we become operational
and begin generating revenues." These promotions follow a strong
2009 for TerreStar, including launching the world's largest, most
powerful communications satellite and introducing the first
integrated satellite and cellular 3G smartphone. In 2010, TerreStar
remains focused on delivering next-generation mobile communications
services to help solve the critical communications challenges faced
by government, emergency responders, enterprises, and rural
communities. About TerreStar Corporation TerreStar Corporation is
the controlling shareholder of TerreStar Networks Inc. and
TerreStar Global Ltd. For additional information on TerreStar
Corporation, please visit the company's website at
http://www.terrestar.com/. Statement under the Private Securities
Litigation Reform Act: This press release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, with respect to the strategy of
TerreStar Corporation, its plans, and the transactions described in
this press release. Such statements generally include words such as
could, can, anticipate, believe, expect, seek, pursue, proposed,
potential and similar words and terms in connection with future
results. We assume no obligation to update or supplement such
forward-looking statements. Media Contact: Kelly Adams, TerreStar
Networks 703.483.7966 ------------------------- DATASOURCE:
TerreStar Corporation CONTACT: Kelly Adams of TerreStar Networks,
+1-703-483-7966, or Web Site: http://www.terrestar.com/
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