GlobeTel CEO Resigns

GlobeTel announced that Peter Khoury has been named interim Chief Executive Officer and a director

October 12, 2006

1 Min Read

FORT LAUDERDALE, Fla. -- GlobeTel Communications Corp. (OTC:GTEM) today announced that Peter Khoury has been named interim Chief Executive Officer and a director, succeeding Timothy Huff, who resigned from both positions but remains with the Company through the transition period. Mr. Huff's talents will be focused on deploying the technology of GlobeTel in key deployments. In addition, the Company announced that Przemyslaw L. Kostro, former Chairman of GlobeTel Communications, returns to that position in the interim, succeeding J. Randolph Dumas. Independent directors Dorian Klein and Ambassador Ferdinando Salleo have also agreed to resign; their seats on the Board will be filled by Mr. Khoury and Mr. Kostro.

Mr. Khoury stated, “I’ve been asked to come onboard during a difficult time in this Company’s short history. I believe that Mr. Huff’s aggregation of important technology and engineering expertise has given the Company a respectable base of intellectual property and talent. We are not starting from scratch, and there are key relationships the Company has built, but we have to have a better coordinated marketing plan, a more fluid flow of information from the business units to senior management, better adherence to schedules, and overall, a more unified sense of purpose as a company. We will work toward these objectives and implement the changes that are necessary to build a stronger, tighter organization that’s able to compete in the global communications marketplace."

Globetel Communications Corp.

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