IDT Corporation News: IDT Energy and More

In recent IDT news, they have just announced that they are increasing the size of their board from five to size members at IDT Corporation, with the appointment of W. Wesley-Perry.

Perry has already been serving as the chairman of Genie Energy Corporation for one year. Genie Energy Corporation, an IDT subsidiary, is comprised of IDT’s interests in IDT Energy, American Shale Oil, LLC (AMSO) and Israel Energy Initiatives (IEI).

W. Wesley-Perry owns and operates S.E.S. Investments, Ltd., which is an oil and gas investments company. In November of 2007, Perry was elected Mayor of Midland, Texas where he still serves in this capacity.

IDT Energy Part of Genie Energy

As of August, 2009, IDT Corporation organized its energy supply and oil share interests together into a new division, called Genie Energy. With Wes Perry, an oil and gas entrepreneur as Genie’s Chairman of the Board, this sector is comprised of IDT Energy, American Shale Oil, LLC (AMSO), and Israel.

As Mr. Perry said, “Genie Energy is developing the technologies America and Israel want to make rapid progress toward energy independence, while IDT Energy is poised for continued growth in the consumer market.”

Geoffrey Rochwarger, who launched IDT Energy for IDT in 2004, will begin to serve as Genie Energy’s President and Chief Executive Officer.