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Posted 16 November, 2023

ATN International, Inc. appointed Brad Martin as new CEO

Nasdaq:ATNI appointed new Chief Executive Officer Brad Martin in a 8-K filed on 16 November, 2023.


  In connection with this appointment, the Board appointed Brad Martin as Chief Executive Officer and as a director of the Company, effective January 1, 2024.  

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Overview of ATN International, Inc.
Telecommunication Services • Wireless Telecommunications Services
ATN International, Inc. engages in investment in communications, energy, and technology businesses. It operates through the U.S. Telecom and International Telecom segments. The U.S. Telecom segment offers carrier services, including wholesale roaming services, site maintenance, and the leasing of critical network infrastructure. The International Telecom segment caters to other telecom providers such as international long-distance, roaming from other carriers, and transport and access services, as well as fixed internet and voice, and retail mobility services. The company was founded by Cornelius B. Prior Jr. in June 1987 and is headquartered in Beverly, MA.
Market Cap
$518M
View Company Details
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On November 13, 2023, the Board of Directors (the "Board") of ATN International, Inc. (the "Company"), appointed Mr. Prior as the Company's Executive Chairman, effective on January 1, 2024. In connection with this appointment, the Board appointed Brad Martin as Chief Executive Officer and as a director of the Company, effective January 1, 2024.


In addition, on November 13, 2023, the Company received notice from Justin Benincasa, the Company's current Chief Financial Officer, of his retirement from the Company, effective March 18, 2024. On November 13, 2023, the Board also appointed Mr. Carlos Doglioli as Chief Financial Officer of the Company, effective March 18, 2024, coinciding with Mr. Benincasa's retirement. Mr. Doglioli plans to join the Company with an effective start date of January 8, 2024 to transition responsibilities from Mr. Benincasa. The Board had been working closely with both Mr. Prior and Mr. Benincasa on succession planning and on November 15, 2023, the Company issued a press release regarding the succession plan for its Chief Executive Officer and Chief Financial Officer


Mr. Martin, 48, has been Chief Operating Officer since joining ATN in 2018. Previously, Mr. Martin served as Chief Operating Officer for Senet Inc., a leading "low power wide area" network (LPWAN) operator and global service provider. From 2013 through 2015, Mr. Martin served as Senior Vice President and Chief Quality Officer with Extreme Networks, a global leader in software-driven networking solutions for Enterprise and Service Provider customers. Between 2008 and 2013, he served as Vice President of Engineering Operations and Quality with Siemens Enterprise Communications and Enterasys Networks, delivering voice and data networking hardware and software solutions to global enterprises. Mr. Martin holds a Bachelor of Science, Mechanical Engineering from the University of Maine, is a published author and featured industry speaker. Mr. Martin brings particular experience to the Board of Directors in his telecommunications industry operating and strategic experience. There are no arrangements or understandings between Mr. Martin and any other person pursuant to which Mr. Martin was selected as a director. Mr. Martin was not appointed to any committee of the Board of Directors at the time of his election. Since the beginning of the Company's last year, other than with respect to his employment as Chief Operating Officer, there have not been any transactions, or currently proposed transactions, or series of similar transactions, in which the Company was a party and in which Mr. Martin had a direct or indirect material interest.


Mr. Doglioli, 53, previously served as Senior Vice President, Chief Financial Officer & Chief Operating Officer for Centennial Towers, a leading provider of wireless infrastructure solutions in Latin America. From 1999 to 2014, Mr. Doglioli served in several senior and key finance roles for portfolio companies of Devonshire Investors and Fidelity Investments, including as the Chief Financial Officer of Backyard Farms from 2012-2014, the Managing Director of Finance of J. Robert Scott from 2008-2012, and Chief Financial Officer of MetroRED Mexico from 2004-2007. Mr. Doglioli holds a Bachelor of Science in Management Information Systems from Caece University in Buenos Aires, Argentina, and a Master of Business Administration from Babson College.


Beginning January 1, 2024, Mr. Martin will receive an annual base salary for his services as Chief Executive Officer of $525,000 and is scheduled to receive an annual grant of equity in March 2024 with an estimated value of $1,500,000 on such terms and conditions to be approved by the Compensation Committee when issuing the grant. In addition, Mr. Martin will be eligible to receive an annual cash performance bonus targeted at 100% of his base salary, with the actual amount of such bonus to be determined by the Compensation Committee of the Board of Directors. Mr. Martin will not receive any compensation for his service as a director of the Company.


Mr. Doglioli will receive an annual base salary of $400,000 and is scheduled to receive an initial grant of equity in March 2024 with an estimated value of $850,000 on such terms and conditions to be approved by the Compensation Committee when issuing the grant. In addition, Mr. Doglioli will be eligible to receive an annual cash performance bonus targeted at 75% of his base salary, with the actual amount of such bonus to be determined by the Compensation Committee of the Board. Mr. Doglioli is also eligible to participate in the Company's medical, dental, 401(k) and other standard benefit plans generally available to Company employees.


Each of Mr. Martin and Mr. Doglioli entered into executive agreements that provide severance benefits, substantially on the same form set forth as Exhibits 10.12 and 10.11, respectively, to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. With respect to Mr. Martin, the executive agreement has an effective date of January 1, 2024 and with respect to Mr. Doglioli, the executive agreement has an effective date of January 8, 2025.


There are no family relationships between Mr. Martin or Mr. Doglioli and any director or executive officer of the Company, and neither of them has a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.


Beginning January 1, 2024, Mr. Prior will receive an annual base salary for his service as Executive Chairman of $525,000 and is scheduled to receive a grant of equity in March 2024 with an estimated value of $1,500,000 on such terms and conditions to be approved by the Compensation Committee when issuing the grant. Mr. Prior will continue to be eligible to receive an annual cash performance bonus for the fiscal year ended December 31, 2023, but beginning in 2024, will no longer be eligible to receive an annual cash performance bonus. Mr. Prior's executive agreement that provides severance benefits, substantially on the same form set forth as Exhibits 10.12 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, will remain in place for the duration of his employment as Executive Chairman. Mr. Prior will also be eligible to participate in the Company' s medical, dental, 401(k), Deferred Compensation Plan and other standard benefit plans generally available to Company employees.