Communications, Inc. (NYSE: GTT), the leading global cloud
networking provider to multinational clients, today announced that it
will nominate Benjamin Stein for election to the company’s board of
directors at its 2019 annual meeting. Mr. Stein is co-founder and
managing partner of The Spruce House Partnership (“Spruce House”), a New
York-based investment partnership. Spruce House is currently the
beneficial owner of approximately 22% of GTT’s outstanding common stock.
“Based on their successive investments in GTT and their support of our
strategic development, our board unanimously agreed to ask Spruce House
if Ben Stein would stand for election to our board at our annual
meeting,” stated H. Brian Thompson, chairman of GTT’s board of
directors. “We are very pleased that he accepted the nomination.”
“I’m grateful for the invitation to stand for election to the board of
directors of GTT,” stated Mr. Stein. “We have tremendous respect for
what this management team and senior leadership have built over the past
decade and the value they have created for shareholders. GTT is still in
its early days and has the right strategy to take advantage of the very
large opportunity ahead.”
Mr. Stein also serves on the boards of Colliers International, one of
the largest commercial real estate services companies in the world, and
The Africa Center, a New-York based institution focused on African
business, culture and policy. Mr. Stein holds a Bachelor of Arts in
international relations from the University of Pennsylvania.
About The Spruce House Partnership
The Spruce House Partnership, founded in 2006, is a New York-based
private investment partnership with over $3 billion of equity capital.
Spruce House is committed to investing in and partnering with a small
group of both public and private owner-operated businesses to support
building companies for the long-term across a range of industries.
Spruce House is backed by some of the most respected university
endowments and largest family foundations and offices globally, whose
research budgets and philanthropic work are direct beneficiaries of
Spruce House’s long-term investment results.
GTT is redefining global communications to serve a cloud-based future,
connecting people across organizations, around the world and to every
application in the cloud. Our clients benefit from an outstanding
service experience built on our core values of simplicity, speed and
agility. A Fortune Future 50 company, GTT owns and operates a global
Tier 1 internet network and provides a comprehensive suite of cloud
networking services to any location in the world. For more information
on GTT, please visit www.gtt.net.