Bill Morrow is out as CEO and director of the board at Clearwire (Nasdaq: CLWR) and John Stanton is in as interim CEO and continuing chairman of the board, in a management shakeup. Morrow resigned for "personal reasons" but will continue to serve as an advisor during the "transition period" as Clearwire searches for a new boss.
Also part of the shakeup, CFO Erik Prusch was promoted to a new position of COO while Hope Cochran was named CFO. Mike Siever, chief commercial officer and Kevin Hart, CIO are also "leaving the company to pursue other opportunities," Clearwire stated.
In a news release, the wireless provider in which Comcast (Nasdaq: CMCSA), Time Warner Cable (NYSE: TWC-WI) and Bright House Networks have financial stakes, said that management changes "are not expected to impact" progress on an ongoing wholesale pricing dispute with lead investor Sprint (NYSE: S) and that "Clearwire believes that an agreement with Sprint is imminent."
For more:
- see this news release
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