|[September 11, 2017]
Zayo Announces CFO Transition
Zayo Group (News - Alert) Holdings, Inc. (NYSE: ZAYO) today announced that it has
appointed Matt Steinfort as chief financial officer (CFO), effective
September 15, 2017. Steinfort will report to Chairman and Chief
Executive Officer (CEO) Dan Caruso (News - Alert). Ken desGarennes will remain through
the Company's second fiscal quarter form 10-Q filing in February of 2018
to ensure an orderly transition.
"Ken's been a great partner over the first 10 years of Zayo's journey,"
said Caruso. "He built a strong and diverse team, architected an
efficient balance sheet, executed our M&A strategy, and led our global
finance, tax and legal operations."
Steinfort joined Zayo as executive vice president, Corporate Strategy,
Development, & Administration in November 2016. His responsibilities
included operational finance, investor relations, treasury, M&A,
strategy, real estate and people operations.
Steinfort joined Zayo from Envysion, a video intelligence SaaS (News - Alert) company
founded by Caruso and Steinfort, where he was CEO for 10 years. Prior to
Envysion, he was senior vice president of Corporate Strategy at ICG
Communications and held a variety of vice president roles at Level 3
Communications, including Consumer Voice, Corporate Strategy and
Development, and Softswitch Strategy and Finance. Earlier in his career,
Steinfort held positions at management consultancy Bain & Company and IT
consultancy Cambridge Technology Partners. Steinfort received a
bachelor's of science in civil engineering and operations research from
Princeton University and an MBA from the MIT (News - Alert)-Sloan School of Management.
"In addition to working with me across four different companies, Matt
has worked directly with several other members of ou executive team and
Board over the past 18 years," noted Caruso. "With our strong balance
sheet, positive organic growth momentum and line of sight to completing
the integration and restructuring work undertaken with recent
acquisitions, the timing for this change is appropriate."
"Retiring was a difficult decision, but the presence of a qualified,
capable candidate made this the right time to ensure a smooth
transition," said desGarennes. "I have no immediate plans beyond
retirement and look forward to working alongside Matt and Dan for the
"Though we will miss Ken, our board and executive team are excited to
have Matt be our CFO," added Caruso.
Caruso will present alongside both Steinfort and desGarennes at the
Goldman Sachs Communicopia Conference 2017 on Wednesday, September 13,
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
124,000-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 (News - Alert), including our 10-K dated August 22, 2017. 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170911006139/en/
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