Frontier Communications Announces Planned CEO Transition
March 03 2015 - 8:00AM
Business Wire
Daniel McCarthy, President and COO, Named
Chief Executive Officer
Maggie Wilderotter Elected Executive
Chairman of the Board
Frontier Communications Corporation (NASDAQ:FTR) today announced
that Daniel J. McCarthy, currently President and Chief Operating
Officer and a member of the Board of Directors, will succeed Maggie
Wilderotter and become President and Chief Executive Officer,
effective April 3, 2015. Mrs. Wilderotter will transition to a new
role as Executive Chairman of the Board of Directors. She will
continue to work closely with Mr. McCarthy to ensure a seamless
transition of leadership responsibilities.
Maggie Wilderotter (Photo:Business
Wire)
Mr. McCarthy has been with the Company since 1990, and has
served as Frontier’s President and Chief Operating Officer since
April 2012. He has served as a member of the Board of Directors
since May 2014. In his capacity as President and COO, Mr. McCarthy
has played an integral role in Frontier’s successful transformation
into a national communications services provider, operating in 28
states and with nearly 15 million addressable households. Most
recently, Mr. McCarthy led the team negotiating the terms of the
Company’s agreement to acquire Verizon’s wireline voice, broadband
and video operations in California, Florida and Texas for $10.54
billion.
Mr. McCarthy said, “I am honored to have the opportunity to lead
Frontier at this exciting moment in our history, and thank Maggie
for her guidance and mentorship. I look forward to working with
her, the Board and the rest of the leadership team as we continue
to enhance our competitive position in the markets we serve,
execute our strategic plan and deliver strong results benefitting
our shareholders, customers and employees.”
Mrs. Wilderotter said, “It has been a privilege to lead Frontier
as CEO for more than 10 years, and I am very proud of our team’s
accomplishments. The Board and I are confident that now is the
right time to transition leadership responsibilities and that Dan
is the right leader to advance Frontier’s record of success. Since
joining Frontier nearly 25 years ago, Dan has been an invaluable
leader and contributor to Frontier’s significant achievements.
Frontier benefits from an outstanding management team with a
diverse range of experienced leaders and thousands of dedicated
employees. I look forward to remaining with the Company as
Executive Chairman and contributing to its continued growth and
success.”
Howard Schrott, Lead Director, said “Today’s announcement is the
result of the Board’s on-going succession planning process, which
took on special emphasis several years ago when Maggie first
discussed her plans with us. In Dan McCarthy the Board has found
the person best qualified to drive Frontier forward. Dan is a
top-notch leader who knows Frontier and our industry. He has an
intimate understanding of our strategy, has a proven track record
in operational execution and, most of all, knows how to create
shareholder value. We are highly confident in Dan’s abilities and
anticipate a seamless transition to his new role as CEO of
Frontier.”
About Daniel J. McCarthy
Daniel J. McCarthy has served as President and Chief Operating
Officer of Frontier since April 2012 and as a member of the
Frontier Board of Directors since May 2014. He was Executive Vice
President and Chief Operating Officer from January 2006 to April
2012. Before this, he was Senior Vice President, Field Operations
from December 2004 to December 2005, and Senior Vice President,
Broadband Operations from January 2004 to December 2004.
Mr. McCarthy joined Frontier in 1990 in the Company's Kauai,
Hawaii, electric division. In 1995, he moved to Arizona to assume
responsibility for the Company's energy operations. In 2001 he was
promoted to President and Chief Operating Officer of Citizens
Public Services sector, responsible for the Company's energy and
water operations. He served as President and Chief Operating
Officer of Electric Lightwave from January 2002 to December
2004.
Mr. McCarthy is a Trustee of The Committee for Economic
Development, a nonprofit, nonpartisan, business-led, public policy
organization. He serves on the Board of Trustees of Sacred Heart
University in Fairfield, Connecticut and is a member of the Western
Connecticut Health Network Corporate Advisory Council.
He holds a bachelor's degree in marine engineering from the
State University of New York Maritime College at Fort Schuyler, and
an M.B.A. from the University of Phoenix.
About Frontier Communications
Frontier Communications Corporation (NASDAQ:FTR) offers
broadband, voice, video, wireless Internet data access, Frontier
Secure data security solutions, bundled offerings and specialized
bundles for residential customers, small businesses and home
offices, and advanced communications for medium and large
businesses in 28 states. Frontier’s approximately 17,400 employees
are based entirely in the United States. More information is
available at www.frontier.com and www.frontier.com/ir.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150303005190/en/
Frontier CommunicationsInvestors:Luke Szymczak,
203-614-5044Vice President, Investor
Relationsluke.szymczak@ftr.comorMedia:Steve Crosby,
916-206-8198Senior Vice President, Corporate
Communicationssteven.crosby@ftr.comorBrigid Smith, 203-614-5042AVP,
Corporate Communicationsbrigid.smith@ftr.com
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