Thursday, October 18, 2007
Black Box Corporation Announces New CEO
PITTSBURGH, PENNSYLVANIA, October 18, 2007 -- Black Box Corporation (NASDAQ:BBOX) today announced that its Board of Directors, following an extensive executive search, has appointed Terry Blakemore as its President and Chief Executive Officer. Mr. Blakemore, a Senior Vice President of the Company, had served in the capacity of Interim President and Chief Executive Officer since May 2007.
Mr. Blakemore has had an extensive and very successful 25-year career in the voice and data telecommunications industry. Prior to serving as Senior Vice President of the Company, Mr. Blakemore served as Manager of Business Development and, prior thereto, as General Manager of the Company’s Voice Services business unit.
Thomas G. Greig, Chairman of the Board of Directors of the Company, stated, "The appointment of Terry Blakemore as President and Chief Executive Officer represents a logical step and the well-deserved recognition of his numerous accomplishments since joining the Black Box team in 1999. Mr. Blakemore has been instrumental in directing the Company's acquisition strategy which has resulted in Black Box evolving into a premier provider of Voice Services. This strategy perfectly compliments the Black Box Data and Hotline products and service offerings. We are very optimistic about Mr. Blakemore's ability to expand this leadership role and his long tenure in a senior executive capacity with the Company will assure a seamless transition. The Board of Directors has full confidence in Mr. Blakemore’s ability to successfully lead the Company’s strategy of serving our world-wide customers with superior products and technical services."
"I am honored with the opportunity to continue the 31 year tradition of excellence that Black Box is known for and look forward to leading the Company and its 4,500 world-wide team members into the future," commented Mr. Blakemore. "I will continue to emphasize our strategy of profitable growth organically, through various partnerships as well as through strategic acquisitions and mergers. At the same time, Black Box will continue to focus on providing superior Data, Voice and Hotline products and services to our loyal and very important world-wide customer base."
About Black Box
Black Box is the world's largest technical services company dedicated to designing, building and maintaining today's complicated data and voice infrastructure systems. Black Box services 175,000 clients in 141 countries with 187 offices throughout the world. To learn more, visit the Black Box website at www.blackbox.com.
Black Box and the Double Diamond logo are registered trademark of BB Technologies, Inc.
Cautionary Forward Looking Statements
Any forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this release. You can identify these forward-looking statements by the fact they use words such as "should," "anticipate," "estimate," "approximate," "expect," "target," "may," "will," "project," "intend," "plan," "believe" and other words of similar meaning and expression in connection with any discussion of future operating or financial performance. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Although it is not possible to predict or identify all risk factors, they may include the timing and final outcome of the ongoing review of the Company’s stock option practices, including the related SEC investigation, shareholder derivative lawsuit and tax matters, and the impact of any actions that may be required or taken as a result of such review, SEC investigation, shareholder derivative lawsuit or tax matters, levels of business activity and operating expenses, expenses relating to corporate compliance requirements, cash flows, global economic and business conditions, successful integration of acquisitions, including the NextiraOne business, the timing and costs of restructuring programs, successful marketing of DVH (Data, Voice, Hotline) services, successful implementation of our M&A program, including identifying appropriate targets, consummating transactions and successfully integrating the businesses, competition, changes in foreign, political and economic conditions, fluctuating foreign currencies compared to the U.S. dollar, rapid changes in technologies, client preferences, the ability of the Company to identify, acquire and operate additional technical services companies, the Company’s arrangements with suppliers of voice equipment and technology and various other matters, many of which are beyond the Company's control. Additional risk factors are included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2007. We can give no assurance that any goal, plan or target set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments.
Chief Financial Officer
Black Box Corporation