8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 3, 2008

IDT CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-16371	22-3415036
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

520 Broad Street Newark, New Jersey	07102
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (973) 438-1000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) (c) On January 3, 2008, IDT Corporation’s (the “Registrant”) Board of Directors voted to switch the current positions of Mr. Stephen R. Brown and Mr. Marc J. Oppenheimer within the Registrant’s management team. As such, Mr. Brown was elected as the Registrant’s Chief Financial Officer and Treasurer and Mr. Oppenheimer was elected as Chief Operating Officer of the Registrant.

Mr. Brown, 51, joined the Registrant as its Chief Financial Officer in May 1995, a position he held until May 2006 and again from March 2007 through August 2007. Prior to his appointment as Chief Operating Officer in October 2007, Mr. Brown served as Senior Vice President of the Registrant, a position he held since September 2007. Mr. Brown also served as Treasurer of the Registrant from March 2007 through August 2007, a position he previously held from June 2002 through May 2006. Mr. Brown has been the Chairman of IDT Carmel since June 2007. Mr. Brown served as a director of the Registrant from February 2000 through December 2006. He served as Co-Chairman of the Board of the Registrant’s IDT Entertainment subsidiary from November 2003, and as President and Treasurer of that division from December 2002, in each case until its sale in August 2006. Mr. Brown was a director of Net2Phone, Inc. from October 2001 to October 2004 and the Chief Financial Officer of IDT Spectrum from June 2005 to November 2005.

Mr. Oppenheimer, 50, previously served IDT as Executive Vice President, Chief Financial Officer and Treasurer since August 2007. He served as a director of the Registrant from April 2006 through August 2007 and on either the Registrant’s or its subsidiary’s boards since December 2002. Mr. Oppenheimer has been the President of Octagon Associates, Inc., a merchant banking and financial/strategic advisory firm, since 1994, and President and a director of its affiliate, LC Holdings Ltd., since its creation in 2007. Until mid-2006, he was Executive Vice President of Kenmar Global Investment Management, Inc., and a Managing Director of Kenmar-Nihon Venture Capital, LLC. Kenmar is a global asset management firm which, during his tenure, managed $2.4 billion in assets. Mr. Oppenheimer was previously the President and Chief Executive Officer of Crystallex International Corporation (AMEX: KRY), a publicly traded international natural resources company primarily focused in South America, from February 1995 to September 2003 and served as its Vice Chairman from September 2003 to May 2004.

There are no arrangements or understandings between Mr. Brown or Mr. Oppenheimer and any other person pursuant to which Mr. Brown and Mr. Oppenheimer were appointed to their new positions, nor are there any family relationships between any director or executive officer and Messrs. Brown and Oppenheimer. Since the beginning of the Registrant’s last fiscal year, Messrs. Brown and Oppenheimer have had no direct or indirect material interest in any transaction to which the Registrant was a party that would require disclosure pursuant to Item 404(a) of Regulation S-K.

A copy of the January 4, 2008 press release relating to the above events is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Document
99.1	Press Release of the Registrant, dated January 4, 2008.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

IDT CORPORATION
By:	/s/ James A. Courter
Name:	James A. Courter
Title:	Chief Executive Officer

Dated: January 7, 2008

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EXHIBIT INDEX

Exhibit Number	Document
99.1	Press Release of the Registrant, dated January 4, 2008.

4

EX-99.1

IDT Corporation Announces Management Changes

Newark, N.J., January 4, 2008—IDT Corporation (NYSE: IDT, IDT.C) today announced that Stephen R. Brown and Marc J. Oppenheimer are swapping portfolios in IDT’s management team. Mr. Brown is returning to his IDT roots as Chief Financial Officer (CFO) and Treasurer. Mr. Oppenheimer is bringing his operational discipline and prior experience to serve as IDT’s Chief Operating Officer (COO), and will focus on the company’s expanding operations in the energy sphere. In addition, Bill Pereira, who has served as Senior Vice President of Corporate since 2006, has been promoted to Executive Vice President (EVP) of Finance. Liore Alroy, Chief Executive Officer of Net2Phone since 2004, has been appointed as EVP of IDT Corporation.

“From time to time, we tap Steve Brown’s talents to guide the development of new ventures, but at the end of the day, we always seem to want him back as our CFO,” said Howard Jonas, IDT’s Chairman and Founder. “On many occasions, I have praised Steve’s capabilities as CFO, and once again we want him in that role as we continue to navigate our way through uncharted waters. Marc Oppenheimer will bring his strategic expertise to the COO post and we look forward to his guiding hand on our diverse operations—particularly our investments in energy.”

“We have seen Marc’s abilities up close as a board member at both IDT and Net2Phone, as our lead independent director and most recently as our CFO,” said Jim Courter, IDT’s Vice Chairman and Chief Executive Officer. “He can manage diverse operations and provide the discipline necessary for each of our division’s management teams to contribute to the overall mission and growth of IDT. Steve has been a great resource to IDT and its shareholders and we look forward to having him at our financial helm once again. As we deal with troubled times at some of our mature businesses and seek to expand other operations, we believe that having Steve and Marc in these respective roles is the best combination of talents for creation of long-term value.”

About IDT Corporation

IDT Corporation is an innovative and opportunity seeking multinational holding company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT Energy operates an Energy Services Company (ESCO) in New York State. IDT’s Capital division incubates newer businesses, and the Company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the Company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include receivables portfolio management and collection, ethnic food distribution, brochure distribution, Internet Mobile Group, Net2Phone Ventures and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. These risks and uncertainties include, but are certainly not limited to the specific risks and uncertainties discussed in our reports filed with the SEC. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

Investor Contact	Media Contact
Michael Rapaport 973-438-4408	Michael Glassner 973-438-3553