WARWICK, R.I., Oct. 27 /PRNewswire-FirstCall/ -- ICOA, Inc. (OTC Bulletin
Board: ICOA), a national provider of wireless broadband Internet networks and
managed services in high-traffic public locations, announced today that
Stephen N. Cummings has been appointed Chief Financial Officer.
Rick Schiffmann, CEO of ICOA, said, "Stephen has served as a financial
consultant to ICOA since early August. He brings extraordinary credentials to
the role of CFO at ICOA. Managing our rapid national growth requires proven
financial leadership, and Stephen's steady hand and capacity to scale ICOA
going forward is a welcome addition to our senior management team and a great
benefit to our company and shareholders."
Cummings, a seasoned financial executive with 31 years of experience in a
variety of executive financial roles, will be responsible for all finance,
human resources and legal functions, as well as having an integral role in the
strategic management of the company. Erwin Vahlsing, former CFO, will remain
with the company and serve as Vice President of Finance reporting to Cummings.
Cummings has a distinguished history of success managing rapid growth on a
national and international scale. Prior to joining ICOA, Cummings served as
Executive Vice President of Finance and Tax for SLI Holdings, an $800 million
company operating in 37 countries which was listed on the New York Stock
Exchange prior to going private. Prior, Cummings managed the $200 million
Treasury and Tax Department for ENSR Corporation, a subsidiary of RWE, AG. He
has also held senior positions with Gruntal & Co, the KIS Corporation, Berlex
Laboratories and WISS & Co CPAs. He holds a BBA, Accounting and Finance, from
Pace University and is a member of the Tax Executive Institute.
"I am attracted to ICOA during this exciting time of rapid growth in the
broadband wireless market because of its solid performance towards scalable
profitability and its proven team of industry pioneers and veterans," said
Cummings. "Further, I'd like to thank Erwin Vahlsing for remaining with the
Company in order to maintain continuity."
About ICOA, Inc.
ICOA, Inc. is a national provider of neutral-host wireless and wired
broadband Internet networks in high-traffic public locations. ICOA provides
design, installation, operations, maintenance and management of neutral,
common-use 802.11x standard WLAN Wi-Fi hot spot and hot zone infrastructure
throughout airport facilities, quick-service restaurants, universities, travel
plazas, marinas, hospitality and hot zone locations. ICOA owns or operates
over 1,300 broadband access installations in high-traffic locations across 45
states. For additional information, visit http://www.icoacorp.com.
For more information, contact ICOA Vice President of Corporate Development
John Balbach at (401) 352-2368 or email email@example.com.
The foregoing contains "forward-looking statements," which are based on
management's beliefs, as well as on a number of assumptions concerning future
events and information currently available to management. Readers are
cautioned not to put undue reliance on such forward-looking statements, which
are not a guarantee of performance and are subject to a number of
uncertainties and other factors, many of which are outside ICOA's control,
that could cause actual results to differ materially from such statements. For
a more detailed description of the factors that could cause such a difference,
please see ICOA's filings with the Securities and Exchange Commission. ICOA
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. This information is presented solely to provide additional
information to further understand the results of ICOA.
SOURCE ICOA, Inc.