By Angela Chen
Frontier Communications Corp. said Tuesday that Chief Executive
Maggie Wilderotter--whose sister, Denise Morrison, is the current
CEO of Campbell Soup Co.--will transition to an executive chairman
role next month.
She will be succeeded as CEO by director Daniel J. McCarthy, who
is currently president and chief operating officer, on April 3.
"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," said
Ms. Wilderotter, who is 60 years old. She became CEO of Frontier in
2004 and has spent billions of dollars on acquisitions over the
past 10 years that have pushed the telecommunications company into
more-populated markets.
Ms. Wilderotter and her older sister, Ms. Morrison, were the
first pair of sisters to run large public companies.
Mr. McCarthy, 47, joined Frontier in 1990 and has been president
and COO since 2012. He led the team negotiating the terms of the
$10.54 billion agreement to buy Verizon's operations in California,
Florida and Texas. If approved by regulators, the acquisition would
cap a stretch of fast growth that has transformed Frontier from a
minor regional telecom into a company providing phone and Internet
service throughout more than half the country.
The company tripled in size following a deal in 2010, and will
double it again following the close of the Verizon deal, which is
expected in 2016.
Shares of Connecticut-based Frontier have increased 20% this
year through Monday's close.
Write to Angela Chen at angela.chen@dowjones.com
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