TMCnews Featured Article

The board of directors for RCN (News - Alert) Corporation, a leading provider of video, data, and voice services, has renewed Peter D. Aquino to serve as president and chief executive officer of the company. As per the agreement, Aquino will serve as president and CEO for another three years.

James F. Mooney, who has served as executive chairman of RCN since 2005, has completed his service under the terms of his contract and will retire from the board. Michael E. Katzenstein, an independent member of the board of directors, has been named non-executive chairman of the board.

As executive chairman, Mooney helped grow RCN’s customer base and completed its financial turnaround. He revitalized the RCN brand, refined the company’s asset portfolio and significantly boosted profitability.

"With the completion of RCN's financial turnaround, and the demonstrated effectiveness of Pete Aquino and the rest of the RCN management team, the time is right for me to step away from RCN to focus on my other business endeavors,” Mooney said in a press release. “I am very proud that I leave RCN as a far stronger business than when I arrived, and I have the greatest confidence that the management team will continue to deliver growth and value to shareholders under Pete Aquino’s leadership.”

Aquino thanked Mooney for his guidance and leadership as executive chairman, and said thanks to his efforts, “RCN is well-positioned to continue its record of sound performance as we execute our strategy of continuously upgrading our customer's service quality and experience, maintaining industry-leading video and broadband products, and capturing the residential, commercial, carrier, and small business opportunities available to us as a result of our investments in network growth and the acquisition of synergistic businesses.”

Katzenstein, who will now lead the board, has served as a director of RCN since 2005. In addition he has served on the audit, compensation, and nominating/governance committees. He, too, played a key role in the company’s turnaround.

“The board of directors joins me in extending its sincerest appreciation to Jim Mooney for his service,” Katzenstein said. “Jim joined RCN to lead its new management team three years ago when the company emerged from bankruptcy, and has built a solid record of consistent execution and performance, highlighted by the company's sale of its significant holding in Megacable, its 2007 recapitalization and return of capital, and its diversification into the commercial/carrier business through the acquisitions of ConEd Communications and NEON, making it a significant Northeast corridor telecommunications player."

“We have the utmost confidence in Pete Aquino's executive leadership, and I look forward to continuing to contribute my perspective in the coming years as chairman," Katzenstein added.

RCN’s board of directors, through its nominating/corporate governance committee, is now actively searching for someone to assume the vacant board seat.

RCN is one of the largest facilities-based competitive providers of bundled cable, high-speed internet and phone services in the U.S. These services are delivered over the company’s fiber-optic local network to consumers and businesses in some of biggest metropolitan markets, including Boston, Chicago, Eastern Pennsylvania, New York, and Washington, D.C. The company’s Business Services division offers bulk video, high-capacity data and voice services to small and medium business customers. Meanwhile its commercial division, RCN Business Solutions, is dedicated to meeting the fiber-based network requirements of enterprises, wholesale telecom operators and government agencies. For more information about RCN Corporation, visit www.rcn.com.

---------

Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users.

Today’s featured White Paper (News - Alert) is titled VoIP Doesn’t Require Any Phone Equipment Investment, brought to you by Accessline.