Teligent CEO quits

Teligent, a money-losing wireless communications company, said Chief Executive Alex Mandl resigned and will be replaced by executives at IDT, Teligent's biggest shareholder. Yoav Krill, managing director of IDT's European division, was named COO and acting CEO of Teligent. Howard Jonas, IDT's chairman and CEO, was named chairman, Teligent said. Mike Kraft, a Teligent senior vice president, said he didn't know where Mandl was going. Last week IDT, an international long-distance phone company based in Newark, N.J., bought a 33.7 percent stake in Teligent from AT&T's Liberty Media unit. Jonas and two other IDT executives joined Teligent's board April 19, Teligent said in a U.S. Securities and Exchange Commission filing.

Teligent also got a two-week extension from its lenders to acquire vendor financing, the Vienna, Va.-based company said. Teligent has until May 15 to secure the financing. Its original deadline was Monday.

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