On October 16, 2013, the Board of Directors of IDT Corporation voted to increase the size of the company's Board from five to six members. The board further voted to elect Michael Chenkin to fill the vacancy. Mr. Chenkin is a Certified Public Accountant and worked in the Audit Department of Coopers and Lybrand from 1974 to 1993 and as a consultant to the securities industry from 1993 to 2008 with an emphasis on business implementation, internal controls, compliance and regulatory matters for large financial institutions.

From August 2008 through October 2009, Mr. Chenkin worked for Benten Management. There are no arrangements or understandings between Mr. Chenkin and any other person pursuant to which Mr. Chenkin was appointed to the Board. Mr. Chenkin was elected to serve on each of the Audit Committee, Corporate Governance Committee and on the Compensation Committee of the Board.

Mr. Chenkin will also serve as a Financial Expert to the Audit Committee.