CINCINNATI--(BUSINESS WIRE)--Mar. 2, 2018--
Cincinnati Bell Inc. (NYSE:CBB), today announced that John M. Zrno will
not seek re-election to the board of directors when his term expires at
the Company’s annual meeting of shareholders in May 2018, and that the
board of directors has nominated Cincinnati Bell’s President and Chief
Executive Officer, Leigh R. Fox, to stand for election at the 2018
annual meeting. The Company also announced that its Chairman of the
board, Phil Cox, will step down from his role as Chairman of the board
prior to the 2019 annual meeting of shareholders. Mr. Cox informed the
board that he does not intend to stand for re-election to the board at
the 2019 annual meeting. These changes align with the Company’s ongoing
board refreshment process which aims to renew the board with directors
who have deep industry expertise and appropriate board experience. The
Company’s board refreshment process has already resulted in the addition
of three new independent directors in the last five years. At the close
of the Hawaiian Telcom transaction expected in the second half of 2018,
Cincinnati Bell will expand the size of the board from nine members to
eleven members, in order to add two existing Hawaiian Telcom directors.
“On behalf of the entire Cincinnati Bell organization, I would like to
thank John for his years of distinguished service to the Company. As a
valued member of our board and trusted advisor to our management team,
John has been instrumental in guiding the Company through its
transformation. We wish John the very best in his future endeavors,”
stated Phil Cox.
Mr. Cox continued, “Leigh has demonstrated the strategic vision and
leadership necessary to drive Cincinnati Bell’s growth strategy and
differentiate the Company in the marketplace. His extensive industry
expertise and unique perspectives will be an invaluable resource to the
board, as we remain focused on building two distinct complementary
businesses with enhanced scale and strategic optionality to deliver
enhanced shareholder value.”
Mr. Fox currently serves as President and Chief Executive Officer of
Cincinnati Bell, a position he has held since May 2017. He joined the
Company in July 2001, and has served in various roles of increasing
responsibility, including Chief Operating Officer and Chief Financial
Officer, demonstrating exemplary accomplishments throughout his tenure.
Mr. Cox added, “The planned transition of the Chairman role is part of a
rigorous board refreshment process undertaken by the board of directors
over a number of years. The timing of this transition will align with
the addition of two new Hawaiian Telcom board members, and I am fully
committed to providing a consistent and seamless transition during this
period of change.”
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:CBB)
provides integrated communications solutions - including local and long
distance voice, data, high-speed Internet and video - that keep
residential and business customers in Greater Cincinnati and Dayton
connected with each other and with the world. In addition, enterprise
customers across the United States and Canada rely on CBTS and OnX,
wholly-owned subsidiaries, for efficient, scalable office communications
systems and end-to-end IT solutions. For more information, please visit www.cincinnatibell.com.
The information on the Company’s website is not incorporated by
reference in this press release.
Important Additional Information
Cincinnati Bell, its directors and certain of its executive officers may
be deemed to be participants in the solicitation of proxies from
Cincinnati Bell shareholders in connection with the matters to be
considered at Cincinnati Bell’s 2018 annual meeting. Cincinnati Bell
intends to file a proxy statement and WHITE proxy card with the U.S.
Securities and Exchange Commission (the “SEC”) in connection with any
such solicitation of proxies from Cincinnati Bell shareholders. CINCINNATI
BELL SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY
STATEMENT AND ACCOMPANYING WHITE PROXY CARD AND OTHER DOCUMENTS FILED
WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Information
regarding Cincinnati Bell’s directors and executive officers is
available in Cincinnati Bell’s proxy statement, dated March 24, 2017,
for its 2017 annual meeting. To the extent holdings of Cincinnati Bell’s
securities by directors or executive officers have changed since the
amounts set forth in the 2017 proxy statement, such changes have been or
will be reflected on Initial Statements of Beneficial Ownership on Form
3 or Statements of Change in Ownership on Form 4 filed with the SEC.
More detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security
holdings or otherwise, will be set forth in the proxy statement and
other materials to be filed with the SEC in connection with Cincinnati
Bell’s 2018 annual meeting. Additional information can also be found in
Cincinnati Bell’s Annual Report on Form 10-K for the year ended December
31, 2017, filed with the SEC on February 26, 2018, and in Cincinnati
Bell’s Quarterly Reports on Form 10-Q. Cincinnati Bell’s shareholders
will be able to obtain, free of charge, any proxy statement, any
amendments or supplements to the proxy statement and any other documents
filed by Cincinnati Bell with the SEC at the SEC’s website at http://www.sec.gov.
In addition, copies will be available free of charge at Cincinnati
Bell’s website at investor.cincinnatibell.com or by contacting
Cincinnati Bell’s Investor Relations by mail at Cincinnati Bell Inc.,
221 East Fourth Street, Cincinnati, Ohio 45202.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180302005237/en/
Source: Cincinnati Bell Inc.
Cincinnati Bell Inc.
Jane Weiler, 513-397-9941