Lightyear founder Sherm Henderson passes the management torch

Sherman Henderson, the founder of Lightyear Network Solutions (OTC BB: LYNS), a competitive residential and business service provider will step down from the CEO post to become Chair Emeritus and Founder.

Working in his new role as an adviser, which will be effective on May 1, Henderson will continue to serve as a member of Lightyear's board and on COMPTEL's Executive Committee.

Taking Henderson's place as CEO will be Stephen M. Lochmueller, while Randy Ammon will assume the dual role of President and Chief Operating Officer of Lightyear.

Both Lochmueller and Ammon are still relatively new to Lightyear. Less than a year after joining Lightyear as its COO in September 2009, Lochmueller became company president in April 2010, with Ammon assuming the COO role at that time.

This management transition comes at a time when Lightyear is trying to establish itself as a still relatively young public company with not only a recently profitable fourth quarter but also the acquisition of rural provider Southeast Telephone.

For more:
- see the release

Related articles:
Lightyear sets sights on a profitable Q4 2010
Lightyear wraps up acquisition of Southeast Telephone
Lightyear expands rural customer base by acquiring SouthEast Telephone
Lightyear brings Libra Corp. under common brand