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NTELOS Holdings Corp. Announces Management Transition Plan

Stocks in this article: NTLS

WAYNESBORO, Va., July 28, 2014 /PRNewswire/ -- NTELOS Holdings Corp. (the "Company" or "NTELOS"; NASDAQ: NTLS) announced today that its Board of Directors ("the Board") has accepted the resignation of James A. Hyde as Chief Executive Officer, President and member of the Board, effective today. The Board also announced the immediate appointment of NTELOS Director Rodney D. Dir as President and Chief Operating Officer.  Michael A. Huber, Chairman of the Board, will oversee strategic relationships and external communications.

"On behalf of the Board of Directors, I would like to thank Jim for his service to nTelos and his significant accomplishments during his tenure," said Michael A. Huber.  "Jim's guidance and leadership was integral to the successful spinoff of Lumos Networks in 2011 as well as the recent extension of our Strategic Network Alliance (SNA) with Sprint Corporation.  We wish him well in his future endeavors."

Mr. Huber continued, "The Board and management remain committed to pursuing our goals of growing our retail business, maximizing the revenue potential of our wholesale relationships and increasing the strategic relevance of our assets.  We are pleased that Rod has agreed to serve as our President and Chief Operating Officer.  Rod is a seasoned telecommunications executive with decades of operational experience with a number of the leading wireless companies.  He has the leadership experience to oversee the operations of the Company, as well as the industry and Company knowledge to execute against our strategic plan.  During the transition period, we will complete a thorough search for a new CEO."

Mr. Dir commented, "I am excited to be taking on this new role at nTelos at a dynamic time in the industry.  I look forward to working closely with the nTelos team to drive outstanding performance for our customers and shareholders."

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