SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
--------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 10, 2000
KMC TELECOM HOLDINGS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-50475 22-3545325
(State or Other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
KMC Telecom Holdings, Inc.
1545 Route 206, Suite 300
Bedminster, New Jersey 07921
(Address of Principal Executive Offices, Including Zip Code)
Registrant's telephone number, including area code: 908-470-2100
Exhibit List Appears on Page 4
ITEM 5. OTHER EVENTS.
KMC Telecom Holdings, Inc. (the "Registrant") wishes to report certain
information with respect to a change in its management. The Registrant's press
release announcing the change in management, dated March 10, 2000, is attached
hereto as Exhibit 99.1 and is incorporated herein by reference in its entirety.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Businesses Acquired.
Not Applicable
(b) Pro Forma Financial Information.
Not Applicable
(c) Exhibits.
The following exhibits are filed with this Report.
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated March 10, 2000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
KMC TELECOM HOLDINGS, INC.
Date: March 15, 2000 By: /s/ ROBERT F. HAGAN
----------------------------------------
Name: Robert F. Hagan
Title: Senior Vice President Finance
EXHIBIT LIST
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated March 10, 2000
EXHIBIT 99.1
KMC TELECOM NAMES ROSCOE C. YOUNG II AS PRESIDENT AND WILLIAM H. STEWART AS
CHIEF FINANCIAL OFFICER
Competitive Local Exchange Carrier Strengthens Management Team
BEDMINSTER, NJ, March 10, 2000 - KMC Telecom Holdings, Inc., a leading
provider of competitive local telecommunications services, today announced key
executive changes, naming KMC Chief Operating Officer Roscoe C. Young II as
President and William H. Stewart as Chief Financial Officer and Executive Vice
President. The company expects to announce a new CEO next week.
Mr. Young, who takes charge as President effective immediately, joined KMC
Telecom in 1996 as Executive Vice President and was promoted to COO in 1997. Mr.
Stewart was most recently Managing Director of Nassau Capital, KMC's largest
shareholder. Messrs. Young and Stewart will be members of the company's Board of
Directors. Former KMC Telecom President Michael A. Sternberg and CFO James
Grenfell have resigned from the company to pursue other interests. Mr. Sternberg
has agreed to be a consultant to the company.
In commenting on the management changes, KMC Telecom Chairman Hal Kamine
said "We want to thank Mike Sternberg for his outstanding work in helping
develop KMC from a startup to a powerful competitive presence offering
integrated voice and data services, and Internet access infrastructure, in 39
markets. As we move into the next phase of KMC's growth, we are delighted to
promote Chief Operating Officer Roscoe Young as President and to welcome William
Stewart, whose strong background in the finance and telecom industries will help
position and introduce KMC to the public equity market this year."
Prior to joining KMC Telecom, Mr. Young was vice president of network
services for Ameritech, where he led more than 4,000 employees involved in
customer service fulfillment of ISDN, digital Centrex and voice services. Prior
to that, Mr. Young directed engineering, network services, national account
sales, marketing and real estate procurement as senior vice president of MFS
Communications. In 1983, Mr. Young was selected by the Reagan Administration to
serve as a special assistant to the Secretary of Defense Casper Weinberger under
the White House Executive Exchange Program.
William Stewart joined Nassau Capital in 1995 and has more than 11 years of
experience in the telecommunications investment industry. He graduated cum laude
with a B.S. degree from Villanova University, earned an M.B.A. from New York
University, and is a Chartered Financial Analyst. While at Nassau Capital, Mr.
Stewart led Nassau's investment program in the communications industry, which
included investments in Cypress Communications, Crown Castle and Portal
Software. Mr. Stewart has served as a Director of KMC since 1996.