Clearwire Corp., is in the midst of a shake-up as three top executives exit the wireless broadband provider. The company announced that CEO Bill Morrow has resigned for personal reasons. Taking his place on an interim basis is John Stanton, Chairman of Clearwire’s board of directors and former CEO of Western Wireless and VoiceStream Wireless.
In the meantime, Morrow will continue to serve as an advisor to the company during the transition period. The company has appointed a search committee, chaired by board member Dennis Hersch, to lead the hiring process for a new CEO.
"I would like to commend Bill for his tremendous leadership in building the first U.S. 4G network, adding more than 5 million subscribers, and raising funds in a challenging economic environment," said John Stanton in a statement. "Bill built a strong leadership team which enables us to promote Erik Prusch and Hope Cochran to new roles. Together, the entire management team at Clearwire remains focused on delivering value to its customers and shareholders."
Morrow isn’t alone in his decision to leave Clearwire. Mike Sievert, chief commercial officer, and Kevin Hart, CIO, are both leaving the company to pursue other opportunities. Both Sievert and Hart will remain with the company for a transition period. "We thank Mike and Kevin for their service and contributions during an incredible period of growth for Clearwire, and we wish them continued success in the future," said Stanton.
Now overseeing day-to-day operations is Erik Prusch, Clearwire’s CFO, who has been promoted to the newly created position. In addition, Hope Cochran, Clearwire’s senior vice president and treasurer, has been promoted to the position of CFO. Cochran will be responsible for all of the company’s financial and investor related functions, including overseeing Clearwire’s ongoing fundraising efforts.
Clearwire claims that it doesn’t anticipate the exodus of executives to impact the company’s ability to resolve a dispute with Sprint over the wholesale fees Sprint pays for Clearwire’s 4G telecommunications service.
TechZone360 Contributing Editor
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