GTT Communications - Executive of the Year
Company: GTT Communications, Inc., McLean, VA, USA
Company Description: GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide area networking, Internet, managed services, voice services and video services. The company’s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Telecommunications
Nomination Title: Richard "Rick" D. Calder Jr., President and CEO
Tell the story about what this nominated executive has achieved since 1 January 2016 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Richard "Rick" D. Calder Jr. is president and chief executive of GTT, a premier provider of cloud networking services and one of the fastest-growing companies in the network and telecommunications sectors. Founded in 1998, GTT delivers services in over 100 countries to over 6,600 customers around the globe, providing multinational enterprises with a better way to reach the cloud.
The company operates a top-five Tier 1 IP network, as well as subsea and terrestrial fiber assets, and offers a comprehensive suite of cloud networking services, including Optical Transport, wide area networking services, Internet, Managed Services, Voice and Video services.
History of Successful Growth
GTT has experienced dynamic growth and financial success since Calder took the helm in 2007, quickly transforming the once-unprofitable network reseller into a leading telecommunications challenger brand. These achievements were made through a carefully selected business strategy that still exists today – one that focuses both on organic growth and expansion through strategic acquisitions.
Leader in M&A Strategy
Calder has built his career on thriving in the face of risk and uncertainty, which has proved invaluable to the company’s success in mergers and acquisitions. In the last year alone, Calder and his team have successfully completed several acquisitions. Two of the most notable transactions were the integration of managed communications service provider One Source Networks in early 2016 and the addition of Hibernia Networks in early 2017. These companies added significant network assets, service offerings and talent to GTT.
Calder’s success has built him a reputation as an expert in telecom M&A and has garnered him several opportunities to speak at industry events as well as coverage in notable publications.
Meeting Aggressive Financial Goals
With great expectations for the year, Calder led the company in successfully executing against the company’s growth strategy, growing 2016 revenue 41.3 percent to $521.7 million, and Adjusted EBITDA 62.3 percent to $125.0 million over 2015, a particularly significant amount in the competitive telecommunications market sector. Calder considers the entire GTT team instrumental in the company’s success as it continues its aggressive growth, making the company well positioned to meet its next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA.
Proactively Meeting Customer Requirements
Under Calder’s leadership, GTT has grown its network infrastructure and services exponentially since year-end 2015.
GTT’s expanded network assets include a new, next-generation global SIP-based voice network and the lowest-latency transatlantic cable. The company has also added optical, video and additional IP and Ethernet points of presence, bringing its reach to over 300+ PoPs worldwide. GTT has grown its service portfolio substantially since year-end 2015 as well, adding Voice services, Optical transport and Video. Most recently, the company introduced a managed SD-WAN offering and DDoS mitigation capability as new, integral additions to its existing Managed Services suite.
Rapidly Expanding Global Presence
GTT’s physical presence has been augmented with new offices in Boston, Denver, Summit (New Jersey) and Halifax, Nova Scotia, in North America; Dublin, Ireland and Southport, UK, in Europe; and Pune, India, in Asia. These additions increased the company’s global organizational presence from 17 to 24 worldwide offices. GTT’s global employee base grew from 572 at year-end 2015 to 830 by February 2017, a growth rate of 69 percent.
Industry Success and Awards
The success of GTT under Calder’s leadership makes him a premier candidate for this award. In addition to the company’s growth and increasing leadership in the market over the past year, Calder continues to earn the trust of employees, clients and shareholders through his commitment to integrity, transparency and delivering a superior client experience. In addition to accolades awarded to GTT, Calder has also been the recipient of several individual awards. Most notably, these include the Ernst & Young Entrepreneur of the Year award and a gold Stevie Award winner for Executive of the Year in the 2017 ABAs.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2016.
-Closed five acquisitions, including One Source Networks and Hibernia Networks
-Grew 2016 revenue 41.3% to $521.7 million and Adjusted EBITDA 62.3% to $125.0 million over 2015
-Increased the number of worldwide offices by nearly 50%
-Increased the number of employees by 69%, from 572 employees at year-end 2015 to 830 in March 2017
-Expanded service portfolio by 50% through the acquisition of One Source Networks (voice and unified communications) and Hibernia Networks (optical transport and video services)
-Augmented managed services suite with Managed SD-WAN and DDoS Mitigation services in 2017
-Expanded network to 300+ global PoPs and added two new service types (optical and video)
-Added subsea and terrestrial assets, including the lowest latency transatlantic cable
-Recipient of numerous company and individual awards, including the ABAs, Leading Lights Awards, International Business Awards, EY Entrepreneur of the Year and being named to the Gartner Magic Quadrant