IDT Shuffles Around Management Team

IDT announced yesterday a whole bunch of internal executive changes in the company. Does not look like they are infusing any new blood into the mix but rather just shuffling around a whole bunch of executives! Brace yourself as I am now going to try and describe the changes.

• Yonah Katz - Former CEO if IDT Telecom is now COO of IDT Telecom
• Motti Lichtenstein - Former COO of IDT Corporation is now CEO of IDT Telecom, a postion he held once before.
• Mikhail Leibov - Former head of Corbina (Russian IDT Venture) will step into the newly created position as President of IDT Telecom
• Marcelo Fischer - Former IDT Corporation CFO is now the CFO of Telecom
• Ely Tendler - Former General Counsel for IDT Corporation now goes back to being Chief General Counsel of IDT Telecom, a position he held once before
• Steve Brown - Former CFO of IDT Corporation is now COO of IDT Corporation

I might have missed someone but for the most part it looks as if IDT is making a play to solidify it's Telecom division as more of an independent entity so they can better position it on the market as an independent asset that can be leveraged or maybe even sold on the open market. Hey I would never put these two things past Mr. Jonas based on his past success with flipping companies.

They also announced that executive compensations were being more closely tied to better performance, which I guess means they are all getting a pay cut until the company does better. I guess it's only fair considering they have been laying off people like flies in recent years.