Shenandoah Telecommunications Company Announces Resignation of Chief Financial Officer James Woodward
April 23 2019 - 8:00AM
Shenandoah Telecommunications Company (“Shentel” or the “Company”)
(NASDAQ:SHEN) announced today that Senior Vice President-Finance
and Chief Financial Officer James F. Woodward will be resigning
from the Company, having successfully completed the reorganization
of the finance function and strengthening of the Company’s
financial reporting procedures and processes. His departure
is not based on any disagreement with the Company’s accounting
principles, practices or financial statement disclosures. Mr.
Woodward will remain in his position until June 28, 2019 to assist
in the orderly transition of his responsibilities.
Mr. Woodward joined Shentel in 2017, following a period of rapid
growth for the Company. During his tenure, Mr. Woodward led
the successful reorganization of the finance and accounting
department and the strengthening of the Company’s financial
reporting processes and procedures. He leaves Shentel in a
strong financial position, having renegotiated the Company’s credit
agreement, resulting in reductions to interest expense and more
favorable amortization and maturities.
“On behalf of the Board of Directors and executive team at
Shentel, I would like to thank Jim for his contribution and
leadership at the Company. His depth of public company
experience and expertise as a seasoned senior executive were a
welcome addition to the senior leadership team,” said President and
CEO Christopher E. French. “Jim’s insight and guidance has
helped us develop a robust financial organization capable of
supporting our organization’s continued growth.”
Mr. Woodward commented, "I have enjoyed working with the Shentel
team. With the support of the Board and the many talented people at
Shentel, we were able to accomplish our goals of strengthening the
balance sheet, the finance and accounting department and our
quarterly and annual reporting practices. Shentel is well
positioned to continue to grow and prosper."
Shentel has retained a leading executive search firm to conduct
an open and comprehensive search for Mr. Woodward’s
replacement.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company (Shentel) provides a broad
range of diversified telecommunications services through its high
speed, state-of-the-art network to customers in the Mid-Atlantic
United States. The Company's services include: wireless voice
and data; cable video, internet and voice; fiber network and
services; and local and long distance telephone. Shentel is the
exclusive personal communications service ("PCS") Affiliate of
Sprint in portions of Pennsylvania, Maryland, Virginia and West
Virginia. For more information, please visit
www.shentel.com.
For further information, please contact Christopher E. French at
540-984-4141.
John Nesbett/Jennifer BelodeauIMS Investor Relations
(203)972-9200jnesbett@institutionalms.com
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