RALEIGH, N.C.--(BUSINESS WIRE)--Bandwidth, one of the nation’s leading communications technology companies, today announced that Chief Financial Officer Jeff Hoffman was named the Triangle Business Journal’s CFO of the Year among large private companies in the region.
The CFO of the Year Awards honor outstanding financial executives who exemplify excellence as corporate financial stewards. Hoffman was recognized July 10 at the Triangle Business Journal’s annual awards ceremony.
Hoffman has been with Bandwidth since October 2011, a critical juncture in the company’s history that saw the initial launch of the consumer Wi-Fi-centric mobile phone service, Republic Wireless.
To accomplish a Bandwidth mission of “perseverance and ability to persist,” Hoffman enacted very strict cash and liquidity minimums, ensuring that employees’ paychecks are protected and the lights stay on. Bandwidth, under Hoffman’s leadership, has taken on extremely low debt—operating and investing almost exclusively on the fruits of its own labor. In fact, at the end of 2013, Bandwidth had zero debt on its books at a time when it was growing at a faster pace than it ever had before.
“Jeff Hoffman has all the technical expertise and business experience to take the CFO reins of any of today’s fastest-growing companies. But it’s not just his technical chops or mastery of deal making that make him an exceptional CFO,” said David Morken, CEO and cofounder of Bandwidth. “It’s Jeff’s unique ability to lead without dictating, counsel without squashing big ideas, coach without lecturing and truly partner with the business to deliver remarkable results. Those are interpersonal nuances that simply can’t be taught—key aspects that have made Jeff successful in his career.”
Bandwidth is among the nation's largest and fastest-growing communication technology companies. The company operates two divisions – wholesale & enterprise and consumer & SMB – that share a mission of transforming the communications industry. Across the divisions, Bandwidth provides a full range of communications services, including voice origination, termination and toll free; a full suite of 9-1-1 services; SMS solutions; SIP Trunking; hosted VoIP for SMBs; and a consumer wireless business. Founded in 1999, and a certified CLEC in 49 states, Bandwidth is a profitable company headquartered in Raleigh, NC with a large remote office in Denver, CO and field offices in eight other cities.