Business Services Industry
Boston Communications Names Jerrold D. Adams Systems Division GM
Business Wire, July 7, 1999
WOBURN, Mass.--(BUSINESS WIRE)--July 7, 1999--
Boston Communications Group, Inc. (Nasdaq:BCGI) announced today that effective July 1, 1999, Jerrold D. Adams assumed the position of Acting General Manager of the Systems Division.
The Company believes that with Mr. Adams' extensive wireless industry knowledge and international experience, the Division will expand its presence in the international market while ensuring that corporate exposure to the under-performance of the Division is minimized.
E.Y. Snowden, President & Chief Executive Officer of Boston Communications Group, Inc. commented, "As we have previously communicated, the Systems Division has had financial difficulties due to the economic instability in the Division's international markets. While we are disappointed in the Division's performance and particularly its effect on the overall Company valuation, we are confident the international prepaid market remains an important opportunity for the Company. Jerry has been on the BCGI Board of Directors since 1996, knows our Company very well and is one of the most highly respected executives in the wireless communications industry. We are very fortunate to have an executive of Jerry's caliber joining our organization to work through the strategic redirection of this Division with us. It is particularly meaningful to see that our Directors are not only high quality executives providing guidance at the Board level, but are committed to the point of joining the organization to assist in an important challenge."
For the past two years, Mr. Adams was the CEO and Chairman of the Board of AirNet, Inc., producers of the world's only broadband radio infrastructure for wireless commercial service. Prior to that, Mr. Adams was the President and COO of Iridium -- the global satellite communications venture; Director of Motorola's PCN Operation in Europe; Senior Vice President of McCaw Cellular's Florida region, and President and General Manager of Metro One -- the Cellular One carrier for New York. The previous General Manager of the Systems Division, Pete Zuyus, Sr., will be continuing as a Vice President of the Company, and will focus on sales, with particular emphasis on business development in the international marketplace.
Boston Communications Group (BCGI), best known as the leading provider of prepaid services to wireless carriers in North and South America, was founded in 1988 and now provides wireless carriers with a range of resources and support services targeted to address the unique needs of this growing industry. BCGI provides one or more of its services to nine of the top ten wireless carriers in the United States, who generate over 75 percent of industry revenues, plus more than 80 additional carriers. Each service plays an integral role in the Company's mission: to help wireless carriers focus resources on their areas of expertise while improving quality, enhancing revenue and controlling costs.
This press release may contain, in addition to historical information, forward-looking statements that involve risks and uncertainties, including Mr. Snowden's statements regarding the expansion of the international market for our systems and the Systems Division's effect on the performance of the Company as a whole. Such statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Among the important factors that would cause actual results to differ materially from those indicated by such forward-looking statements are significant decreases in business from major customers, declines in demand for the Company's services and systems both domestically and internationally, lack of acceptance of the prepaid wireless service and systems, the ability of the Company to successfully support its C2C network, the ability of the Company's carrier customers to successfully market and sell C2C wireless prepaid service, general global economic conditions, and the risk factors detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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