Denver, February 28, 2001 - Qwest Communications International Inc., the broadband Internet communications company, today said Robert S. Woodruff, executive vice president and chief financial officer, is retiring from Qwest on March 2 as planned to spend more time with his family.
Robin R. Szeliga, senior vice president of finance, will be the interim CFO while a search for a replacement continues. Szeliga joined Qwest in November 1997, and has been an integral part of Woodruff?s team and Qwest?s financial results. Prior to joining Qwest, Szeliga was a senior finance executive at Telecommunications Inc. (TCI).
Woodruff, who joined Qwest in 1994, told Qwest Chairman and CEO Joseph P. Nacchio and the board of directors last year that he expected to leave.
?Robert has been a valued colleague at Qwest helping us take the company public in 1997 and achieving15 consecutive quarters of excellent results,? Nacchio said. ?I also want to thank Robert for staying as long as he has to help us have a good start for meeting 2001 financial targets. The Qwest board of directors and I thank him for his many contributions and wish him and his family the best.?
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity(r) Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 104,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com.
This release may contain projections and other forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, volatility of Qwest's stock price, intense competition in the communications services market, changes in demand for Qwest's products and services, dependence on new product development and acceleration of the deployment of advanced new services, such as broadband data, wireless and video services, which could require substantial expenditure of financial and other resources in excess of contemplated levels, higher than anticipated employee levels, capital expenditures and operating expenses, rapid and significant changes in technology and markets, adverse changes in the regulatory or legislative environment affecting Qwest's business and delays in Qwest's ability to provide interLATA services within its 14-state local service territory, failure to maintain rights of way, and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST timely or at all and difficulties in combining the operations of Qwest and U S WEST. This release may include analysts' estimates and other information prepared by third parties for which Qwest assumes no responsibility. Qwest undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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