Clearwire CEO resigns, Stanton named interim chief

Clearwire Corp. (CLWR) has reconfigured its executive line up following the sudden resignation of former CEO Bill Morrow.
Morrow, who according to Clearwire has left the company for personal reasons, will be replaced on an interim basis by recently named chairman and industry pioneer John Stanton. Morrow, who joined Clearwire in early 2009, will continue to serve as an advisor to the company during the transition period, with a search for a new CEO to be headed by current board member Dennis Hersch.
Stanton has served as a director of Clearwire since November 2008, having joined the board through his managing director position at private investment firm Trilogy Partners L.L.C., which invested in Clearwire following the company’s reorganization in 2008.
Following Morrow out the door will be chief commercial officer Mike Sievert and chief information officer Kevin Hart. Both will remain with the company for a transition period before leaving Clearwire to “pursue other opportunities.”
In addition to the CEO change, Clearwire reported that current CFO Erik Prusch has been moved to a new position as COO at the mobile broadband carrier. In his new position Prusch will be responsible for Clearwire’s day-to-day operation, including wholesale and retail sales, marketing, customer service, supply chain, human resources, IT and network operations. No word if he will also be in charge of parking cars.
To fill the CFO position, Clearwire has tapped Hope Cochran, who previously served as SVP and treasurer. Cochran will be responsible for all of the company’s financial and investor related functions, including overseeing Clearwire’s ongoing fundraising efforts.
Clearwire said the shakeup is not expected to impact the company’s ongoing attempts to resolve a wholesale pricing dispute with Sprint Nextel Corp., which both parties have said they think will be resolved shortly.