MSTAR, Utah’s largest and fastest growing fiber-optic service provider, today announced it has hired a new chief financial officer known for building companies with little or no revenue into competitive organizations.
Steve Russo has served in a variety of senior management roles for several high-tech companies and has more than 19 years of executive management experience in finance and operations.
“I’m thrilled to be with MSTAR,” Russo said. “It’s a company that has undergone some drastic changes in the last year and is clearly heading in the right direction.”
Prior to joining MSTAR, Russo served as chief financial officer for Sweet Living, a start-up network-marketing company. In just a year and a half, Russo positioned Sweet Living for acquisition and negotiated the details.
Ben Gould, MSTAR’s president and chief executive officer, said Russo’s background will be an asset in guiding the company’s growth.
“Steve’s experience is a big plus for us as our company is expanding so rapidly,” Gould said. “MSTAR faces some unique challenges which call for a proven professional. Steve has a track record with the kind of results we like to see.”
Russo also served as the vice president of operations and chief financial officer of Arkona, a supplier of business management solutions targeted toward the automotive industry. When Russo joined Arkona in February 2000, the company had no revenue and was still developing its product.
Gould said some of MSTAR’s challenges mirror Arkona’s in that the company is still developing its product.
“As a company, MSTAR has drastically improved its services in recent months,” he said, “but we’re still building the business and ultimately this process is something I’m confident Steve can help us successfully tackle.”
Before Russo left Arkona in 2005, the company saw record revenues and profitability.
Russo is an expert in financial system design and implementation and has extensive experience working with SEC disclosure and compliance. He has negotiated and guided the sale and purchase of several companies and business units.
He also served as vice president of operations and CFO of Vinca Corporation, another start-up company; and president of Merasoft, a high-tech voice recognition company.
“It’s a thrill to join a company with this much potential for growth,” Russo said. “I’m excited to be part of the process as the company moves forward.”
For more information about MSTAR, please visit the Website or call (877) 678-2763.
MSTAR is Utah’s premier provider of ultra high-speed Internet, cutting-edge IPTV and low-priced phone service over a world-class fiber-optic network. MSTAR began as Deseret Online, a dial-up and DSL provider, and is now the state’s biggest and fastest-growing fiber-optic service provider.