Sep. 28, 2009 (PR Newswire) --
NEW BRUNSWICK, N.J., Sept. 28 /PRNewswire-FirstCall/ -- Arbinet Corporation (NasdaqGM: ARBX), a leading provider of innovative voice and IP solutions for buying and selling telecommunications capacity, today announced that Gary G. Brandt has been appointed Chief Financial Officer, effective October 1, 2009. He succeeds John "Jack" Wynne, who, as the Company previously announced, is stepping down as Chief Financial Officer.
Mr. Brandt brings nearly 30 years of financial, technology, and telecommunications experience with public and private companies to Arbinet. From 2001-2005, Mr. Brandt served as Chief Financial Officer of Hydrogenics Corporation, a publicly traded renewable energy company based in Toronto, where he oversaw the Company's critical finance and administration functions. His accomplishments there included driving a five-fold increase in the Company's revenues, completing a follow-on public equity offering, three acquisitions and increasing U.S. institutional ownership to over 30 percent. For the first 20 years of his career, he served in numerous financial capacities in the telecommunications industry with increasing responsibilities for companies such as Nortel and MCI. Most recently, Mr. Brandt served as CEO of Stirling Power, LLC, a private renewable energy solutions firm and before that, as CEO of Solomon Technologies, Inc., a publicly traded power supply and electric drive technology company. From 2005-2007, he served as Vice President of Corporate Development at SatCon Technology Corporation, a publicly traded renewable energy technology company, where he completed a follow-on public equity offering.
"We are pleased to have an executive with Gary's breadth and depth join Arbinet," said Shawn O'Donnell, President and Chief Executive Officer of Arbinet. "The Board of Directors and I are confident that Gary's financial expertise combined with his previous telecommunications and technology industry experience makes him the ideal choice for CFO as we focus on improving our performance to create value for shareholders."
"Arbinet is an exciting company with an abundance of potential stemming from its technology, product and services portfolio," said Mr. Brandt. "I look forward to leveraging my financial and industry experience and working with Shawn and the strong team in place to help position Arbinet for success."
Prior to his work at Hydrogenics, Mr. Brandt served as Chief Financial Officer of @Link Networks, Inc. From 1994 to 2000, he served as the Vice President, Investor Relations for MCI. From 1985 to 1994, he held a variety of lead financial roles at Nortel. He began his career at PwC Chartered Accountants in Toronto. Mr.
