NEWS RELEASE
December 31, 2001
Global eTelecom Announces Three Promotions to its Executive Management Staff
DESTIN, FL - Global eTelecom, Inc., the national leader in Electronic Payment Processing announced three new promotions to its executive management staff. The new management members will assume their new duties starting January 1, 2002.
"As we continue our rapid growth, each of us is challenged to grow, to enable the corporation's further growth and success. Many of our team have given their all and continue to do so for the corporation. I am therefore very proud to announce that we have some team members that have continued to develop within our company and excel, and have earned the right to assume new levels of trust and responsibility," states John H. Beebe, Chairman and Chief Executive Officer of Global eTelecom.
Gregory S. Oswalt has been promoted to Executive Vice President of the Corporation. Mr. Oswalt will lead our strategic development within the industry. Mr. Oswalt will also remain as a Chief Financial Officer.
Joseph D. Korinek has been promoted to Chief Information Officer. Mr. Korinek will lead the way on our new technology initiatives and partner integration. Mr. Korinek will also remain as a Senior Vice President of the corporation.
Ed Villarreal has been promoted as our new Chief Operations Officer. Mr. Villarreal will be responsible for furthering our organizational efficiencies and continuing our process improvement initiatives. Mr. Villarreal will also remain as a Senior Vice President of the corporation.
Mr. Michael Varley relinquishes his position as Chief Operations Officer and remains as Vice Chariman of the corporation.
"Our continued rapid pace of growth has made these changes necessary to allow us to continue providing the same excellent level of service to our customers and partners," adds Greg S. Oswalt, Chief Financial Officer of Global eTelecom. "I too am very pleased with the dedication and "Get it Done" attitude of these two individuals, and it speaks well of the strength of our entire team."
About Global eTelecom
Global eTelecom is a privately held corporation based in Destin, FL, and developed the most advanced technology for processing checks electronically at the Point of Purchase through the National Automated Clearing House Association (NACHA). Global eTelecom is an active member of NACHA's Electronic Check Council. Global eTelecom provides it's proprietary, fully customizable XML based electronic check processing services to a nationwide network of banks, independent sales agents and associations, credit card processors, insurance companies, 3rd party software providers, and retail merchants ranging in size from small "Mom & Pop" stores to national retail chains. Global eTelecom's proprietary Electronic Check Services include: Electronic Check Conversion (Point-of-Purchase), Electronic Mail Order / Telephone Order Checks (MOTO), Encrypted Electronic Internet Checks, Lockbox Conversion, Electronic Recurring Debit, Electronic Represented Check Collection (RCK), Wireless Encrypted Infrared Checks, Electronic Check Image Capture, and Secure Web Based Check Image Retrieval. More information on Global eTelecom can be found on the company's website at www.globaletelecom.com or by calling (850) 650-8506.