ATNI - ATN Announces Leadership Succession Plan for 2024 | Benzinga
CEO Michael Prior to Transition to Executive Chairman;
COO Brad Martin to be Appointed Chief Executive Officer and Member of the Board;
Justin Benincasa to Retire; Carlos Doglioli to be Named CFO
BEVERLY, Mass., Nov. 15, 2023 (GLOBE NEWSWIRE) -- ATN International, Inc. ("ATN" or the "Company") (NASDAQ:ATNI), today announced that Chief Operating Officer Brad Martin will succeed Michael Prior as President and Chief Executive Officer of ATN effective January 1, 2024, and join the board of directors. At that time, Mr. Prior will become Executive Chairman of the Company. In addition, Chief Financial Officer Justin Benincasa will retire from the Company in March 2024 following the completion of our year-end close process and reporting. Carlos Doglioli will join ATN in January 2024 and will become CFO upon Mr. Benincasa's retirement.
"This leadership transition is the result of a detailed succession planning process undertaken by the board of directors and designed to ensure the continuity of our leadership team and the long-term success of ATN," Mr. Prior said. "I am grateful to my colleagues and members of the Board, past and present, for their support, fellowship and guidance during my tenure as CEO, and I will continue to rely on that support in my new role. We have achieved many successes and weathered many challenges over the years. Through it all we have maintained our strong corporate culture, our commitment to the people and communities we serve, and our focus on delivering value for our shareholders.
"As we look ahead, we are focused on executing our Glass & Steel TM and First-to-Fiber strategy, generating higher returns on our extensive investments by growing our customer base, and enhancing operating and capital efficiency," said Prior. "With his focus on execution and operational efficiency, I believe that Brad is the ideal person to lead this next phase of growth for ATN. He has demonstrated his capabilities and market knowledge over the past five years as our Chief Operating Officer. I am excited to see Brad take this next step in leading ATN, and I look forward to working closely with him and our global team."
"Michael is a visionary leader who has been instrumental in advancing our mission to digitally empower people and communities to connect with the world and prosper," said lead independent director, Dr. Bernard Bulkin. "In his 18 years as President and CEO, Michael has transformed ATN through strategic acquisitions and investments to its present operating footprint spread across markets in North America and the Caribbean region. He has done this while maintaining a balanced capital allocation approach, which included returning $289 million to shareholders in the form of dividends and share repurchases. As Executive Chairman, Michael will remain actively involved, continuing his leadership of the Board and guiding the overall direction of ATN, with a particular focus on strategic opportunities that create value for our ...