Richard A. Clark named President of OTELCO; CEO Rob Souza announces retirement

Richard Clark

OTELCO announced last week that Richard A. Clark has been appointed President of the company, reporting to Rob Souza, Chief Executive Officer and Director of OTELCO. In addition, Souza has announced he will retire on December 31, 2019. Coincident with Souza’s retirement, Clark will assume the additional position of Chief Executive Officer and will be based in New Gloucester, Maine.

Prior to joining Otelco, Clark was Executive Vice President and Chief Financial Officer of TVC Albany, Inc., headquartered in Albany, New York, and doing business as FirstLight Fiber.

“When Richard joined Otelco as Chief Operating Officer in October of last year, he brought a wealth of varied business experience, including five years of telecom experience as Chief Financial Officer of FirstLight Fiber,” commented Souza. “Over the past seven months, Richard has focused on plant and network operations and will now expand his responsibilities to include marketing, sales, billing and regulatory functions. Richard has demonstrated great leadership in addressing the growth of our network, including developing a comprehensive plan to meet the objectives of our company and affirm our commitment to expand and enhance our delivery of broadband services. He understands our business and how best to apply the continued evolution of technology to meet customer and market requirements. Richard is well prepared to provide strategic guidance and direction to the operation of every aspect of our business.”

Rob Souza

“I look forward to continuing the working relationships already established within OTELCO in my new role,” commented Clark. “The telecommunication industry continues to experience rapid changes. Focusing our resources on enhancing broadband services will be a primary objective of the Company. High-speed data is a necessity for both consumers and businesses alike and meeting the broadband needs of our customers is a key component of our company’s future.”

About OTELCO

OTELCO Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia. The Company’s services include local and long distance telephone, digital high-speed data lines, transport services, network access, cable television and other related services. With approximately 99,000 voice and data access lines, which are collectively referred to as access line equivalents, OTELCO is among the top 25 largest local exchange carriers in the United States based on number of access lines. OTELCO operates eleven incumbent telephone companies serving rural markets, or rural local exchange carriers. It also provides competitive retail and wholesale communications services and technology consulting, managed services and private/hybrid cloud hosting services through several subsidiaries. For more information, visit the Company’s website at www.otelco.com.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results, or from any future results expressed or implied by such forward-looking statements. In addition to statements, which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects,” “intends,” “anticipates,” “plans”, or similar terms to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.

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