Alaska Communications Announces CEO Transition
June 14 2019 - 8:55AM
Business Wire
- Anand Vadapalli to Depart June 30
-
- William H. Bishop COO to Act as Interim
CEO -
Alaska Communications (NASDAQ: ALSK), the state’s leading
broadband and managed IT services provider, today announced CEO
Anand Vadapalli will depart the company on June 30, 2019. Effective
July 1, 2019, COO William H. Bishop will serve as interim CEO while
the board conducts a candidate search for a permanent CEO. Mr.
Vadapalli will serve as an advisor for board and management during
this transition period through the end of 2019.
Board Chair David W. Karp stated, “We thank Anand for his nearly
thirteen years of dedicated service, during which he led the
company as CEO for the last eight and half years. Under Anand’s
leadership, Alaska Communications set the pace for our industry in
terms of proactively taking steps to restructure the company,
de-levering the balance sheet, investing in the network and
developing new customer relationships to drive sector leading top
line performance.
“As reported in its Q1 2019 results, the company is tracking to
its growth and other revenues to be at nearly 70 percent of total
revenues, positioning the company very well for EBITDA and FCF
expansion.
“Our experienced team will drive ahead and uphold Alaska
Communications’ pillars of strength: strong customer relationships,
excellent customer service, and superior networks. With
opportunities in 5G wireless backhaul, education, carrier and
federal as well as oil and gas, our Enterprise & Carrier
business will continue to drive performance.
“The Board will be active in its oversight during this
transition period and fully expects the company to deliver
long-term shareholder value.”
About Alaska Communications
Alaska Communications (NASDAQ: ALSK) is the leading provider of
advanced broadband and managed IT services for businesses and
consumers in Alaska. The company operates a highly reliable,
advanced statewide data network with the latest technology and the
most diverse undersea fiber optic system connecting Alaska to the
contiguous U.S. For more information, visit
www.alaskacommunications.com or www.alsk.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190614005076/en/
Alaska Communications Media Contact:Heather Cavanaugh,
907-564-7722, heather.cavanaugh@acsalaska.com
Alaska Communications Investor Contact:Tiffany Smith,
907-564-7556, investors@acsalaska.com
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