Gtech (NYSE:GTK)
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GTECH Names Walter DeSocio Senior Vice President, General
Counsel, and Corporate Secretary
WEST GREENWICH, R.I., Jan. 6 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that Walter G. DeSocio has joined the
Company as Senior Vice President, General Counsel, and Corporate Secretary.
Reporting to W. Bruce Turner, GTECH President and Chief Executive Officer,
DeSocio is responsible for managing and overseeing all legal matters for the
Company. As part of these efforts, DeSocio also serves as Corporate Secretary
to GTECH's Board of Directors.
"We consider ourselves fortunate to add such a talented, multi-faceted business
attorney to our senior management team," said Mr. Turner. "Walter is a great
addition and brings a solid background in corporate governance, compliance, and
Sarbanes-Oxley regulations. His proven leadership and extensive legal and
business expertise will be important factors in achieving our strategic
business objectives."
DeSocio most recently served as Chief Administrative Officer, General Counsel,
and Corporate Secretary at Internap Network Services Corporation, the leading
provider of intelligent routing services over the Internet, where he was
responsible for the company's corporate administration, human resources, and
legal and regulatory activities, and played an instrumental role in the
development and execution of Internap's strategic imperatives.
Prior to joining Internap, DeSocio was General Counsel and Senior Vice
President of Regulatory Affairs at Concert B.V., the multi-billion dollar
global communications business owned by AT&T and BT Group. Previous to that,
DeSocio was AT&T's Chief Regional Counsel for Europe, Middle East, and Africa,
with legal responsibility for all of AT&T's international business activity
outside of the U.S.
DeSocio earned his Bachelor of Arts degree in Political Science from Colgate
University, his Juris Doctor from New York Law School, and an LL.M. degree with
valedictory honors from Cambridge University (Corpus Christi College) in
England.
Certain statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The Company identifies
forward-looking statements by words such as "may," "will," "should," "could,"
"expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," or
similar words that refer to the future. Such statements include, without
limitation, statements relating to the prospects and financial outlook for the
Company, which reflect management assumptions regarding: (i) the future
prospects for and stability of the lottery industry and other businesses in
which the Company is engaged or expects to be engaged, (ii) the future
operating and financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and earnings per
share), and (iii) the ability of the Company to retain existing business and to
obtain and retain new business. Such forward-looking statements reflect
management's assessment based on information currently available, but are not
guarantees and are subject to risks and uncertainties that could cause actual
results to differ materially from those contemplated in the forward- looking
statements.
These risks and uncertainties include, but are not limited to, those set forth
above, in the Company's subsequent press releases and on reports by the Company
on Forms 10-K, 10-Q and 8-K, and other reports and filings with the Securities
and Exchange Commission, as well as risks and uncertainties respecting: (i)
the potential impact of extensive and evolving government regulations upon the
Company's business; (ii) the ability of the Company to continue to retain and
extend its existing contracts and win new contracts; (iii) the possibility of
slower than expected growth or declines in sales of lottery and gaming goods
and services by the Company or the Company's customers; (iv) exposure to
foreign currency fluctuations; (v) risks and uncertainties inherent in doing
business in foreign jurisdictions; (vi) the relatively large percentage of the
Company's revenues attributable to a relatively small number of the Company's
customers; (vii) the possibility of significant fluctuation of quarterly
operating results; (viii) the intensity of competition in the lottery and
gaming industries; (ix) the possibility of substantial penalties under and/or
termination of the Company's contracts; (x) the ability of the Company to
respond to technological change and to satisfy the future technological demands
of its customers; (xi) opposition to expansion of lottery and gaming; (xii) the
Company's ability to attract and retain key employees; and (xiii) the
possibility of adverse determinations in pending legal proceedings.
GTECH, a leading global information technology company with over $1 billion in
revenues and more than 5,400 people in over 50 countries, provides software,
networks, and professional services that power high-performance, transaction
processing solutions. The Company's core market is the lottery industry, with
a growing presence in commercial gaming technology and financial services
transaction processing. For more information about the Company, please visit
GTECH's website at http://www.gtech.com/.
Contact:
Robert K. Vincent
Public Affairs
GTECH Corporation
401-392-7452
DATASOURCE: GTECH Holdings Corporation
CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation,
+1-401-392-7452
Web site: http://www.gtech.com/