EXHIBIT 99(i)
BROADWING INC. Press Release
- --------------------------------------------------------------------------------
Investor contact: Media contact:
- ----------------- --------------
Matt Booher Thomas Osha
513.397.9904 513.397.7316
matt.booher@broadwing.com tom.osha@broadwing.com
- ------------------------- ----------------------
BROADWING NAMES KEVIN MOONEY TO SUCCEED
RICHARD ELLENBERGER AS CHIEF EXECUTIVE OFFICER
JACK CASSIDY ELECTED CHIEF OPERATING OFFICER
DANIEL MEYER ELECTED CHAIRMAN OF THE BOARD
CINCINNATI--September 20, 2002--Broadwing Inc. (NYSE:BRW) today announced that
its board of directors has elected Kevin W. Mooney to serve as chief executive
officer, effective immediately, succeeding Richard G. Ellenberger who, by mutual
agreement, is departing the Company and has resigned from the board.
Additionally, the board elected Cincinnati Bell president, Jack F. Cassidy to
the position of chief operating officer. Mooney and Cassidy will both join the
board as directors.
Daniel J. Meyer, who has served as a director on Broadwing's board since 1999,
has been elected Chairman.
Mooney has served as Broadwing's chief operating officer for the past year and
previously as the Company's chief financial officer. In addition to his new
role, Cassidy will retain his responsibilities as president of Cincinnati Bell.
"The board is very grateful to Rick for his leadership, integrity, and vision
that enabled our company to expand its offerings in the Cincinnati market and
complete an important strategic acquisition that grew Broadwing from a single
market to a national presence," said Meyer.
"At the same time, we are delighted with the strong combination of financial
expertise, operational skills and customer focus that Kevin and Jack bring to
their respective positions. The board is confident in their ability to continue
to strengthen Broadwing's financial position, improve operations, and build
value for our shareholders. Moreover, we are pleased to be able to leverage
Jack's leadership talents, that have made Cincinnati Bell an industry leader, on
a broader scale as Broadwing's chief operating officer," Meyer continued.
"I am excited by the opportunity to build upon the excellent foundation laid by
Rick, lead the most talented and dedicated employees in the industry, and
increase our presence in important markets," said Mooney. "This is a very
challenging telecom environment, and my top priorities are to evaluate
alternatives to strengthen our financial position; realize more of the value
that we have created in recent years; continue to adjust operationally to thrive
in this difficult market; and continue to focus on providing an unparalleled
level of service to our customers," Mooney continued.
-more-
"I am privileged to have worked with so many outstanding individuals at
Cincinnati Bell and Broadwing," said Ellenberger. "And I am extremely proud of
the successes we achieved, the challenges we have overcome, and the integrity we
displayed in growing Broadwing into an important industry player. I am pleased
to be leaving the company in the capable hands of Kevin and Jack, with whom I
have worked closely, and have the utmost confidence in their ability to take
Broadwing to its next stage of development," said Ellenberger.
Mooney, (44) has served as chief operating officer of Broadwing since November
2001. In that position he was responsible for all operations of the Company and
its two principle operating units - Cincinnati Bell and Broadwing
Communications. Prior to that, he was chief financial officer of Broadwing, and
previously Cincinnati Bell. He has also served at the company's controller and
vice president of finance. Before joining Cincinnati Bell in 1990, Mooney held
management positions at BellSouth and AT&T.
Cassidy (48) has served as president and COO of Cincinnati Bell since 2000.
Previously, he was responsible for the launch of Cincinnati Bell's industry
leading long distance and wireless businesses. Prior to that, Cassidy held
executive positions with Cantel, Ericsson, and General Electric.
Meyer (65) is the retired Chairman and Chief Executive Officer of Milacron,
Inc., a manufacturer of metalworking and plastics processing machinery and
systems. He has served as a director of Broadwing since 1999. He also serves as
a director of The E.W. Scripps Company, Milacron, Inc., AK Steel Holding
Corporation and Hubbell Incorporated.
###
ABOUT BROADWING
Broadwing Inc. (NYSE: BRW) is an integrated communications company comprised of
Broadwing Communications and Cincinnati Bell. Broadwing Communications leads the
industry as the world's first intelligent, all-optical, switched network
provider and offers businesses nationwide a competitive advantage by providing
data, voice and Internet solutions that are flexible, reliable and innovative on
its 18,500-mile optical network and its award-winning IP backbone. Cincinnati
Bell is one of the nation's most respected and best performing local exchange
and wireless providers with a legacy of unparalleled customer service excellence
and financial strength. The company was recently ranked number one in customer
satisfaction, for the second year in a row, by J.D. Power and Associates for
local residential telephone service and residential long distance among
mainstream users. Cincinnati Bell provides a wide range of telecommunications
products and services to residential and business customers in Ohio, Kentucky
and Indiana. Broadwing Inc. is headquartered in Cincinnati, Ohio. For more
information, visit www.broadwing.com.
NOTE: Information included in this news release contains forward-looking
statements that involve potential risks and uncertainties. Broadwing's future
results could differ materially from those discussed herein. Factors that could
cause or contribute to such
2
differences include, but are not limited to, Broadwing's ability to maintain its
market position in communications services, general economic trends affecting
the purchase of telecommunication services, world and national events that may
affect the ability to provide services, and its ability to develop and launch
new products and services. More information on potential risks and uncertainties
is available in the company's recent filings with the Securities and Exchange
Commission, including the 2001 Form 10-K for Broadwing Inc. and Broadwing
Communications Inc.
3