- Push-out Score determined
- After about 13 years in the position
- Praise for Calder
- Responsibilities redistributed
- Search for a successor
(exechange) — McLean, Virginia, May 26, 2020 — This news came the day after Memorial Day. Rick Calder, chief executive of GTT, leaves. As announced by GTT Communications Inc. in a news release and in a regulatory filing published on Tuesday, May 26, 2020, Richard D. (Rick) Calder, chief executive officer, leaves the cloud networking provider after about 13 years in the role, effective June 1, 2020.
GTT will undertake a search for a successor.
Following Rick Calder’s departure, the position of Chief Executive Officer will not be filled for the time being. Rick Calder’s responsibilities are being redistributed.
Rick Calder’s move forms part of a management shake-up also involving the position of chief revenue officer.
No reason given
In the announcement, GTT did not explicitly explain the reason for Rick Calder’s move.
Precise information regarding Rick Calder’s future plans was not immediately available.
“Depart the company”
GTT said: “Richard D. Calder, Jr., GTT president and CEO, will depart the company effective on June 1, 2020.”
GTT further said: “Richard D Calder, Jr. will depart from his position as Chief Executive Officer and President of GTT Communications, Inc. (the “Company”) and from all offices and positions he holds with the Company’s direct and indirect subsidiaries, effective June 1, 2020. On May 25, 2020, Mr. Calder resigned from his position as a Director of the Company and all of its direct and indirect subsidiaries effective June 1, 2020 and informed the Board that his resignation as a Director will be effective June 1, 2020 regardless of whether he is elected to such position at the Company’s annual meeting of stockholders to be held May 27, 2020.”
Share price decline
The announcement follows a decline in GTT Communications Inc.’s share price of 78% since May 2019.
Chaired by H.Brian Thompson
GTT Communications Inc. is chaired by H.Brian Thompson.
Thompson is the founder of GTT and has served as chairman of the company’s board of directors since January 2005 and as its executive chairman since October 2006.
In the position of CEO since 2007
Rick Calder became CEO of the Company in 2007.
Richard D. Calder, Jr., has served as the Company’s Chief Executive Officer and Director since May 2007.
Prior to joining the Company, from 2004 to 2006, Calder served as President & Chief Operating Officer of InPhonic, Inc., a publicly-traded online seller of wireless services and products.
From 2001 to 2003, Calder served in a variety of executive roles for Broadwing Communications, including as President, Business Enterprises and Carrier Markets.
From 1996 to 2001, Calder held several senior management positions with Winstar Communications, ultimately serving as President of the company’s South Division.
In 1994, Calder co-founded Go Communications, a wireless communications company, and served as its Vice President of Corporate Development until 1996.
Prior to co-founding Go Communications, Calder held a variety of marketing, business development, and engineering positions with MCI Communications and Tellabs.
Calder received a Master of Business Administration from Harvard Business School and received a Bachelor of Science in Electrical Engineering from Yale University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to GTT and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 22.2020 ($).