GTT Communications - Executive of the Year - Telecommunications
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 2017 (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 worldwide, 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 wide area networking services, SD-WAN, Internet, managed services, transport services and 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 targeted 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. Calder and his team successfully completed ten acquisitions from 2017-2018. The company finalized the integration of high-speed network connectivity solutions provider Hibernia Networks in Q1 2017, adding Transbeam, Perseus and Global Capacity in Q2 and Q3, and acquiring numerous other companies through year-end 2017. In Q1 2018, GTT completed the acquisition of both Custom Connect and Accelerated Connections, and in Q2 closed the acquisition of Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms.
Calder’s success has earned 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 and with the media, including two appearances on Mad Money and an interview on Bloomberg TV.
Meeting Aggressive Financial Goals
With great expectations for 2017, Calder led the company in successfully executing against its growth strategy, growing 2017 revenue 57.0 percent to $827.9 million, and Adjusted EBITDA 77.2 percent to $221.7 million over 2016. The company is well positioned to meet its next financial objectives of $2 billion in revenue and $550 million in Adjusted EBITDA.
Proactively Meeting Client Requirements
Under Calder’s leadership, GTT has expanded its global points of presence to more than 300 worldwide, adding optical and video PoPs to its growing roster of Ethernet and IP PoPs. The company has increased its service portfolio substantially, adding SD-WAN, DDoS mitigation, Ethernet over copper, optical transport, video services and financial market data services. The integration of Interoute significantly increases the scale of GTT’s global IP network and creates one of the most comprehensive cloud networking platforms in the industry.
Rapidly Expanding Global Presence
GTT’s physical presence has been augmented with new offices in Boston, Denver, Halifax, Miami, Minneapolis, Rochester, San Jose and Toronto in North America; Southport, UK, and Dublin, Ireland, in Europe; Sao Paulo, Brazil, in South America; and Pune, India, in Asia. These additions increased the company’s global presence from 18 to 33 worldwide offices. GTT’s global employee base grew from 830 in March 2017 to 1,300 in March 2018, a growth rate of 56 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 tremendous 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 outstanding client experience. In addition to the awards garnered by GTT as a whole, Calder received several individual awards last year, most notably CEO of the Year in the World Communications Awards and gold Stevie Awards for Executive of the Year in both the ABAs and International Business Awards.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2016\7.
-Closed ten acquisitions, including Interoute, Hibernia Networks and Global Capacity.
-Grew revenue 57.0% to $827.9 million and Adjusted EBITDA 77.2% to $221.7 million over 2016.
-Increased the number of worldwide offices by 83% from 18 to 33.
-Increased the number of employees by 56%, from 830 to 1,300, from March 2017 to March 2018.
-Expanded portfolio of services through the acquisition of Hibernia Networks (optical transport and video services), Global Capacity (on-net access services) and Perseus (ultra-low latency services and time synchronization).
-Expanded network to 300+ global PoPs and added two new service types (optical and video).
-Added subsea and terrestrial fiber assets, including the lowest latency transatlantic cable.
-Recipient of numerous company and individual awards, including the ABAs, International Business Awards, Fortune Magazine’s Future 50, World Communications Awards CEO of the Year and being named to the Deloitte Technology Fast 500