RigNet, Inc. Announces New Board Members
HOUSTON, Feb. 3, 2011 (GLOBE NEWSWIRE) -- RigNet, Inc. (Nasdaq:RNET), a leading provider of managed communications to the oil and gas industry, recently announced the following changes to its board of directors in connection with the completion of its initial public offering (IPO) on the NASDAQ stock exchange. In total, the board is being increased from six to eight directors, with three continuing, three resigning and five joining as the Company transitions from a board of mostly private equity investors to a board with energy, telecommunications and public company experience.
"I would like to thank our past board for their help with RigNet's growth over the years and also to say how excited I am to be working with our new board that, with its relevant industry experience, will help us to continue providing premium and forward thinking service to our valued customers," said Mark Slaughter, RigNet's CEO and president.
Continuing directors are: Tom Matthews, RigNet's chairman; Kevin Neveu, CEO and president, Precision Drilling; and Chip Davis of Sanders Morris Harris Private Equity Group. Resigning from the board are Dirk McDermott, managing partner, Altira Group; Orjan Svanevik of Cubera Private Equity; and Omar Kulbrandstad, RigNet co-founder.
Joining the RigNet board are: Kevin J. O'Hara, Keith Olsen, Brent K. Whittington, James H. Browning and Slaughter. Said Tom Matthews, "we are pleased to welcome our new board members to RigNet where their telecommunications and public company experience will provide RigNet's management with the guidance and perspectives for the Company's next stages of growth."
Kevin J. O'Hara is co-founder and Chairman of Troppus Software Corporation, and a director of Integra Telecom Inc. Prior to that, Mr. O'Hara was a co-founder of Level 3 Communications, Inc. and served as President, Chief Operating Officer and Executive Vice President. Mr. O'Hara previously was President and Chief Executive Officer of MFS Global Network Services, Inc., Senior Vice President of MFS, President of MFS Development, Inc. and Vice President of MFS Telecom, Inc. Mr. O'Hara has a Master of Business Administration from the University of Chicago and a Bachelor of Science in Electrical Engineering from Drexel University. Mr. O'Hara will bring a wealth of experience in the communications industry to RigNet's board as well as experience running a public company. He will serve on RigNet's Compensation Committee.
Keith Olsen served as Chief Executive Officer, President and Director of Switch and Data Facilities Company, Inc., a provider of network-neutral data centers until Switch and Data Facilities Company, Inc. was acquired by Equinix, Inc. in 2010. Prior to that, Mr. Olsen served as a Vice President of AT&T, responsible for indirect sales and global sales channel management. Previously, Mr. Olsen was Vice President of Graphnet, Inc. Mr. Olsen has a Bachelor's degree from the State University of New York, Geneseo. Mr. Olsen will bring experience in running a public company to RigNet's board as well as a wealth of experience in the communications industry. He will serve on RigNet's Audit Committee.
Brent K. Whittington is the Chief Operating Officer of Windstream Corporation. Prior to that, Mr. Whittington served as the Executive Vice President and Chief Financial Officer of Windstream Corporation and also served as Executive Vice President and Chief Financial Officer of Windstream Corporation's predecessor, Alltel Holding Corp. Mr. Whittington also served as Vice President of Finance and Accounting of Alltel Corporation and as Senior Vice President-Operations Support of Alltel Corporation. Mr. Whittington has a degree in accounting from the University of Arkansas at Little Rock. Mr. Whittington will bring experience in finance and accounting to RigNet's board as well as a wealth of experience in the communications industry. He will serve on RigNet's Audit Committee.
James H. Browning served as a partner at KPMG LLP until to his retirement in 2009. Most recently, Mr. Browning served as KPMG's Southwest Area Professional Practice Partner and as an SEC Reviewing Partner and Partner-in-Charge of KPMG LLP's New Orleans audit practice. Mr. Browning received a Bachelor of Science in Business Administration from Louisiana State University and is a certified public accountant. He also serves on the Board and Audit Committee of Texas Capital Bancshares, Inc. Mr. Browning will bring a wealth of knowledge dealing with financial and accounting matters to our board as well as extensive knowledge of the role of public company boards of directors. He will serve as Chairman of RigNet's Audit Committee.
RigNet (Nasdaq:RNET) is a leading global provider of managed communications, networks and collaborative applications dedicated to the oil and gas industry. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to remote sites in over 30 countries on six continents, effectively spanning the drilling and production industry. RigNet is based in Houston, Texas. For more information, please visit www.rig.net
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CONTACT: Boyd Skelton RigNet +1 (281) 674-0111 email@example.com