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EasyLink To Seek Replacement For Departing DirectorStock Market: EasyLink To Seek Replacement For Departing Director
Wed October 13, 2004 - 05:15:33 PM

EasyLink Services Corporation (NASDAQ:EASY), a leading 

global

 provider of services that power the 

exchange

 of information between enterprises and their 

customer

, today announced that Stephen Duff will resign from EasyLink's Board of Directors effective November 12, 2004. Mr. Duff informed the Company that current and anticipated time constraints relating to his other investment duties require him to discontinue his service on the board. Mr. Duff, who is a board designee of Federal Partners, L.P. and is Chief Investment Officer of The Clark Estates, 

Inc.

, serves on the Compensation Committee of the Company's board. Federal Partners, L.P. will retain 

its

 contractual 

right

 to designate a member of EasyLink's board.

Mr. Duff said, "EasyLink's progress in executing on 

its

 long-term strategy since I first joined the board in 2001 allows me to step down at a time in which I believe the Company's prospects are bright and 

its

 financial condition is greatly improved." Thomas Murawski, President and Chief Executive Officer of EasyLink, said, "We greatly appreciate all of the assistance and valuable guidance that Steve provided to EasyLink since he has been a member of the board and thank him for his service."

EasyLink's independent directors have commenced a search for independent director candidates with a view to filling the vacancy created by Mr. Duff's departure. 

Nasdaq

 Marketplace Rule 4350(c) requires that a majority of the board of directors be comprised of independent directors. Three of EasyLink's six other members of the board are independent under 

Nasdaq

 rules. If EasyLink does not appoint another independent director to 

its

 board on or before November 12, 2004, 

Nasdaq

 Rule 4350(c) will require EasyLink to regain 

compliance

 with the majority independent director requirement by the earlier of 

its

 2005 annual 

shareholder

 meeting and one year after the 

effective date

 of Mr. Duff's departure.

About EasyLink Services Corporation:

EasyLink Services Corporation (NASDAQ:EASY), headquartered in Piscataway, New Jersey, is a leading 

global

 provider of services that power the 

exchange

 of information between enterprises, their 

trading

 communities, and their 

customer

. EasyLink's 

global

 network handles over 1 million 

transaction

 every business day on behalf of over 60 of the Fortune 100 and 20,000 other companies worldwide. We facilitate 

transaction

 that are integral to the 

movement

 of 

money

, materials, products, and people in the global 

economy

, such as 

insurance claim

trade

 and travel 

confirmation

, purchase 

order

invoice

, shipping 

notice

 and 

fund

 transfers, among many others. EasyLink helps companies become more 

competitive

 by providing the most secure, efficient, reliable, and flexible 

mean

 of conducting business electronically. For more information, please visit www.EasyLink.com.

This news release may contain statements of a forward-looking nature relating to the future events or the future financial results of EasyLink. Investors are cautioned that such statements are only predictions and that actual events or results may differ materially. In evaluating such statements, investors should specifically consider the various 

factor

 which could cause actual events or results to differ materially from those indicated from such forward-looking statements, including the matters set forth in the Company's reports and documents filed from time to time with the 

Securities and Exchange Commission

.



Investment Dictionary Terms Used In Article: 26  CLICK HERE TO VIEW

Securities and Exchange Commission

,

Effective date

,

Insurance claim

,

Compliance

,

Customer

,

Confirmation

,

Competitive

,

Exchange

,

Economy

,

Factor

,

Fund

,

Global

,

Invoice

,

Inc.

,

ITS

,

Money

,

Mean

,

Movement

,

Nasdaq

,

Notice

,

Order

,

Right

,

Shareholder

,

Transaction

,

Trade

,

Trading



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