WEST PALM BEACH, Fla., and NETANYA, Israel, Dec. 28, 2012 (GLOBE NEWSWIRE) -- magicJack VocalTec, Ltd. (Nasdaq:CALL) (the "Company"), the Voice Experts and cloud communications leader that invented voice over IP (VoIP) and sold over ten million magicJacks®, today announced the appointment of Gerald T. Vento as President and Chief Executive Officer effective January 1, 2013. Mr. Vento is a seasoned telecom executive with more than three decades of experience and a strong industry track record. Notably, he founded TeleCorp PCS, Inc., a public U.S. wireless services company, in 1996. As Chairman and CEO, he grew TeleCorp's annual revenue to $1.1 billion and sold the company to AT&T Wireless for $5.7 billion in 2002. Mr. Vento has been a Director of magicJack since 2008 and became Chairman of the Board in April 2012. In connection with Mr. Vento's new role, current Board Member Donald Burns, also an experienced and successful public telecom company founder and CEO, will assume the role of Chairman of the Board.
Daniel Borislow stated, "Jerry and Donald are proven winners and the Board and I agree that they will be the best CEO and Chairman to maximize shareholder value and realize magicJack's vast potential. I am more of a startup and invention guy; Jerry and Don have the ability and the track record running successful public companies. Jerry will do a tremendous job building more organization into the company, putting together a sound strategy, and working with the investment community to add more tier one analysts and meet the requisite requirement of meeting with investors more frequently. I have never been prone to heeding others' advice or, for that matter, genuinely interested in other people's opinions, and that style may be viewed as one not benefiting a public company. Time will not tell. The Company is fortunate to have the perfect person for the CEO job, someone who has been part of our growth strategy since 2008. So the Dan Borislow show is coming to an end and a new era begins. I look forward to the change and thank Jerry for the passion he brings and sacrifice he will make over the coming years for the benefit of the shareholders."
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