Clearwire Corp. (CLWR) looked within for new leadership announcing the promotion of current COO Erik Prusch to president and CEO of the company. Prusch will replace industry veteran John Stanton, who will be moving to his new position as executive chairman of Clearwire’s board of directors.
Stanton was named interim CEO in March following the resignation of former CEO Bill Morrow. That move followed Stanton’s appointment in January where he was tapped to replace Craig McCaw as chairman of Clearwire’s board.
“Erik has demonstrated the ability and talent necessary to lead our organization through one of the most competitive periods in the mobile broadband industry’s short history,” said Stanton in a statement. “I strongly believe that under his guidance our business will deliver value to shareholders as we continue to grow our business and leverage our unmatched and unencumbered spectrum advantage.”
Prusch originally joined Clearwire as CFO in 2009, and was promoted to COO in March at the same time Stanton came in as CEO.
“Since joining Clearwire I have witnessed tremendous growth and change in the mobile broadband space and I recognize the many opportunities and challenges that lie ahead,” said Prusch in a statement. “John and I, as well as the rest of our senior leadership team, are focused on successfully executing the critical tasks needed to grow our business and fully leverage our significant spectrum assets in order to keep Clearwire on course as a leader in mobile broadband and the largest 4G provider in the United States.”
Clearwire last week announced second quarter results that showed an increasing reliance on its wholesale operations as well as plans to install LTE equipment across its network pending its ability to secure the approximately $600 million in funding.
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