FTE NETWORKS, INC. (OTCMKTS:FTNW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
On January 17, 2019, Mr. Lynn Martin notified FTE Networks, Inc. (the “Company”) of his resignation from the position of Chief Operations Officer, effective January 25, 2019.
On January 19, 2019, the Company’s Board of Directors granted Mr. Michael Palleschi, the Company’s Chief Executive Officer, a temporary leave of absence. In connection with Mr. Palleschi’s leave of absence, the Board of Directors appointed Mr. Anthony Sirotka, the Company’s Chief Administrative Officer, to serve as Interim Chief Executive Officer. Mr. Sirotka brings more than 20 years of experience in the telecommunications and construction industry. Prior to joining the Company, Mr. Sirotka was Principal of LQ Optics, a NYC based telecommunications infrastructure solution firm. Prior to that, Mr. Sirotka served as the Senior Northeast Program Manager with Level 3 Communications where he was responsible for more than $500 million of new construction in the northeast region.
There are no arrangements or understandings between Mr. Sirotka and any other persons in connection with his appointment. There are no family relationships between Mr. Sirotka and any director or executive officer of the Company, and Mr. Sirotka is not a party to any transaction required to be disclosed to Item 404(a) of Regulation S-K.
About FTE NETWORKS, INC. (OTCMKTS:FTNW)
FTE Networks, Inc., (FTE Networks) is a provider of international and regional telecommunications and technology systems, and infrastructure services. The Company’s segments are Telecommunications and Staffing. It also offers managed information technology, telecommunications services, subscriber-based services and staffing solutions through its subsidiaries, Jus-Com, Inc. (doing business as FTE Network Services), FTE Wireless, LLC and Focus Venture Partners, Inc. (doing business as FVP Worx). Its services include engineering consulting, design, installation, maintenance and emergency response in various categories, including cabling, equipment installation and configuration, rack and stack, wiring build-outs, infrastructure build-outs, direct current power installation, online service provider/Internet service provider fiber placement, fiber cable splicing and testing. In the wireless space, it provides engineering, design, installation and upgrade of wireless communications networks.
