On May 1, 2014, Mr. Robert J. Souza was appointed President of Otelco Inc. The position was previously held by Mr. Michael Weaver, who remains the Chief Executive Officer and a director of the Company. Since July 2010, Mr. Souza has been the Company's Senior Vice President and General Manager for its New England division. Mr. Souza joined the Company in October 2008 as the Vice President of Operations for New England.

Mr. Souza served as President of Pine Tree Holdings Inc., Granby Holdings Inc. and War Holdings Inc. from 2001 until they were acquired by the Company in October 2008. Mr. Souza was not appointed as President of the Company for a fixed term of office, but rather will hold such position until a successor is named.