Ribbon Communications Announces Three New Appointments to its Board of Directors

Rhea-AI Summary

Ribbon Communications (Nasdaq: RBBN) announced the appointment of three new directors to its Board effective June 19, 2020: Shaul Shani, Mariano de Beer, and Tanya Tamone. These appointments follow the resignation of three board members on June 18, 2020, and are part of a strategic move after Ribbon's merger with ECI Telecom, which granted the Swarth Group a 17.8% stake in the company. Additionally, Patrick Macken has been appointed as EVP and Chief Legal Officer, succeeding Justin Ferguson. The new board members bring significant international experience to facilitate Ribbon’s growth ambitions.

Positive

• New directors enhance board diversity and bring international telecommunications expertise.
• Patrick Macken's legal experience is expected to strengthen Ribbon's compliance and governance.

Negative

• Resignation of experienced board members may lead to potential continuity issues.

WESTFORD, Mass., June 23, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, today announced three new appointments to the company's Board of Directors.  The three new directors, Shaul Shani, Mariano de Beer, and Tanya Tamone, joined the Ribbon Communications board of directors effective June 19, 2020. Mr. de Beer and Ms. Tamone are independent directors, and Mr. Shani is the chairman of Swarth Group, the lead investor in ECI Telecom.  With the recent merger of Ribbon and ECI, the Swarth Group became a 17.8% shareholder of Ribbon Communications. The new appointments were made in connection with the designation rights granted to the Swarth Group in conjunction with the merger.

Immediately prior to the appointment of the three new directors, board members Richard J. Lynch, Kent J. Mathy, and Scott E. Schubert resigned effective June 18, 2020, as anticipated and described in the proxy materials for the Ribbon Communications 2020 annual shareholder meeting. 

In addition, Patrick Macken recently joined the company and has been appointed Executive Vice President (EVP) and Chief Legal Officer by the Board effective June 19, 2020. Patrick will lead the company's global legal and compliance functions and serve as Corporate Secretary, succeeding Justin Ferguson, who will be leaving the organization to pursue other opportunities following a transition period.

"The new additions to our board and the executive management team further pave the way for achieving the next level of growth," said Bruce McClelland, CEO of Ribbon Communications. "I welcome new directors Mr. Shani, Mr. de Beer, and Ms. Tamone. Our three new directors add significant international communications and business experience and bring expanded board diversity. We are grateful for the leadership of our departing board members Dick, Kent, and Scott. Their collective contributions allowed us to grow and transform to where we are today and complete the recent ECI merger."

Mr. McClelland added, "Patrick is a seasoned public company executive and we are excited to have him on board. He brings more than 20 years of relevant legal experience in the tech, media, and telecom sectors. I have had the pleasure of working directly with him for several years on a senior executive team, and I'm confident in his ability for a swift and impactful transition to the Ribbon team. I extend our appreciation to Justin Ferguson who will support Patrick in his transition and we wish Justin success as he pursues new opportunities." 

Shaul Shani is the founder and Chairman of Swarth Group, a private global investment company investing in public and private companies primarily in the communication services, technology, IT, cyber, renewable energy and real estate sectors as well as financial markets.

Mariano de Beer was Chief Commercial and Digital Officer of Telefonica S.A., a large public multinational telecommunications company, from 2017 until 2019. Mr. de Beer was also member of the Telefonica Group Executive Committee. From 2013 to 2015, he was General Manager (President) of Microsoft in Brazil and, from 2015 to 2016, General Manager (President) of the multi-country Region Latam New Markets, responsible for several countries in South and Central America and the Caribbean. Previously, he was CEO of RBS Educação, part of the Brazilian conglomerate RBS Group. Mr. de Beer is a former consultant at McKinsey & Co. He graduated from UADE in Argentina and obtained an MBA from Georgetown University.

Tanya Tamone has held the position of CEO of Sogerco S.A., a private trust company, since 2007. She has held a variety of senior positions at a number of private trust companies since 1996 and currently serves as a director for several privately held companies. Between 1985 to 1996, Ms. Tamone served as a trader for Bank Leu, Fuji Bank and Cedef S.A in Switzerland, specializing in currency and interest trading.

Prior to joining Ribbon, Patrick Macken served as Senior Vice President, General Counsel and Secretary of ARRIS Group Inc., which was acquired by CommScope for $7.4 billion in 2019. Previously, Mr. Macken was a Partner in the corporate practice at Troutman Sanders LLP where he developed an expertise in securities law, M&A, and corporate governance. Patrick holds a B.A. from Tulane University and received his J.D, Magna Cum Laude, from Tulane Law School where he was a member of the Order of the Coif. 

About Ribbon
Ribbon Communications (Nasdaq: RBBN), which recently merged with ECI Telecom Group, delivers global communications software and network solutions to service providers, enterprises, and critical infrastructure sectors. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, and includes packet and optical networking, core to edge IP solutions, UCaaS/ CPaaS cloud offers, and leading-edge software security and analytics tools. To learn more about Ribbon visit rbbn.com.  To learn more about Ribbon visit rbbn.com.  For more information about our Elastic Network technology packet-optical portfolio visit ecitele.com.

Important Information Regarding Forward-Looking Statements 
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications' business, please refer to the "Risk Factors" section of Ribbon Communications' most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications' views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications' views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

 

Investor Relations					APAC, CALA & EMEA Press
Monica Gould					Catherine Berthier
+1 (212) 871-3927					+1 (646) 741-1974
IR@rbbn.com					cberthier@rbbn.com
North American Press					Analyst Relations
Dennis Watson					Michael Cooper
+1 (214) 695-2224					+1(708)212-6922
dwatson@rbbn.com					mcooper@rbbn.com

 

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SOURCE Ribbon Communications Inc.

FAQ

What changes were made to Ribbon Communications' board of directors?

Ribbon Communications appointed three new directors on June 19, 2020, including Shaul Shani, Mariano de Beer, and Tanya Tamone.

What impact will the new board members have on Ribbon Communications?

The new board members are expected to bring valuable international experience and enhance strategic growth following the ECI merger.

Who are the departing board members of Ribbon Communications?

The departing board members are Richard J. Lynch, Kent J. Mathy, and Scott E. Schubert, who resigned effective June 18, 2020.

Who is the new Chief Legal Officer at Ribbon Communications?

Patrick Macken has been appointed as EVP and Chief Legal Officer effective June 19, 2020.