1/14/2009 4:20:00 PM
Jim Hyde's destination is the United States
Jim Hyde, will be going back to his native United States following his exit from T-Mobile in March.
Hyde will join a regional American communications company called Ntelos as president and chief operating officer but will ascend to chief executive officer of the company in due course.
Hyde said: 'It’s kind of a diversified holding company for branded wireless and fixed line services. They serve seven different companies. It’s an interesting little company trading on the Nasdaq. '
He continued: They are one of the few remaining regional telcos in the States that is very successful and very profitable.’
NTELOS is a communications company which provides mobile and fixed line services to Virginia and West Virginia, which has a combined population of 9.5 million people. The company also has operations in nearby Kentucky and Ohio.
The company posted revenues of $136m (£93m) for the third quarter of last year, and a net profit for the three months of $13m (£9m).
The company’s fixed line business goes back to 1897, but the business appears to have operated in a conservative fashion, focussing on local consumers and business, and not reached further afield.
NTELOS said Hyde should eventually move to the position of chief executive officer, succeeding the incumbent, James S. Quarforth, upon his eventual retirement.
Quarforth commented: ‘This is an important part of our succession planning as we position the Company for continuing long-term success. With his experience at T-Mobile, he brings great operating as well as sales and marketing experience to the Company. Also, having Jim on board as President and COO will permit me to focus even more on the Company's strategic planning as the telecommunications industry continues to evolve.’