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GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, today announced that it will nominate Benjamin Stein for election to the company’s board of directors at its 2019 annual meeting. Mr. Stein is co-founder and managing partner of The Spruce House Partnership (“Spruce House”), a New York-based investment partnership. Spruce House is currently the beneficial owner of approximately 22% of GTT’s outstanding common stock.
“Based on their successive investments in GTT and their support of our strategic development, our board unanimously agreed to ask Spruce House if Ben Stein would stand for election to our board at our annual meeting,” stated H. Brian Thompson, chairman of GTT’s board of directors. “We are very pleased that he accepted the nomination.”
“I’m grateful for the invitation to stand for election to the board of directors of GTT,” stated Mr. Stein. “We have tremendous respect for what this management team and senior leadership have built over the past decade and the value they have created for shareholders. GTT is still in its early days and has the right strategy to take advantage of the very large opportunity ahead.”
Mr. Stein also serves on the boards of Colliers International, one of the largest commercial real estate services companies in the world, and The Africa Center, a New-York based institution focused on African business, culture and policy. Mr. Stein holds a Bachelor of Arts in international relations from the University of Pennsylvania.
About The Spruce House Partnership
The Spruce House Partnership, founded in 2006, is a New York-based private investment partnership with over $3 billion of equity capital. Spruce House is committed to investing in and partnering with a small group of both public and private owner-operated businesses to support building companies for the long-term across a range of industries. Spruce House is backed by some of the most respected university endowments and largest family foundations and offices globally, whose research budgets and philanthropic work are direct beneficiaries of Spruce House’s long-term investment results.
GTT is redefining global communications to serve a cloud-based future, connecting people across organizations, around the world and to every application in the cloud. Our clients benefit from an outstanding service experience built on our core values of simplicity, speed and agility. A Fortune Future 50 company, GTT owns and operates a global Tier 1 internet network and provides a comprehensive suite of cloud networking services to any location in the world. For more information on GTT, please visit www.gtt.net.
GTT Investor Relations:
Carolyn Capaccio/Jody Burfening, LHA
GTT Media Inquiries:
Marion Janic, RooneyPartners
Bob Cavosi, RooneyPartners