IDT Picks CEO 654425

NEWARK, N.J. -- IDT Corporation (NYSE: IDT, IDT.C) announced today that Liore Alroy has been named CEO of IDT Telecom as part of broader restructuring program designed to cut costs and achieve profitability.

Prior to today’s appointment, Mr. Alroy served as an Executive Vice President and as Chairman of the Executive Committee of the Company. Since 2004, he has been the Chief Executive Officer of Net2Phone Inc., an affiliate of the Company that was fully acquired in 2006. Mr. Alroy joined IDT in 2001.

“I am delighted that Liore will be taking the helm of our telecom business. He has been a leader in the VOIP industry, and is ideally suited to identify and execute on opportunities created by emerging technologies,” said Jim Courter, IDT’s CEO.

“I look forward to taking on the new challenges at Telecom,” said Mr. Alroy. “I will be working energetically to maximize shareholder value by leveraging our considerable telecommunications expertise and assets.”

Mr. Alroy will replace Motti Lichtenstein, who also served as IDT’s Executive Vice President for Telecom. Mr. Lichtenstein is leaving to pursue other business opportunities.

As part of its restructuring and cost reduction program, the Company also announced that Marc J. Oppenheimer will step down as Chief Operating Officer of IDT. Mr. Oppenheimer will be working with the company to ensure a smooth transition of his duties to other members of the IDT management team.

“I want to thank Motti and Marc for the important contributions they have rendered to IDT,” said Jim Courter. “Motti has been with us for many years and was instrumental in building IDT Telecom, as well as making many meaningful contributions to IDT as a whole. Marc has been with IDT as a director of Net2Phone and then IDT Corporation, as our lead independent director and most recently as a member of management. He has brought important changes to IDT and helped set us back on the path to profitability. I’m grateful for the valuable contributions both men have made to the company, and wish them all the best in their future endeavors.”

IDT Corp. (NYSE: IDT)