Frontier Announces Election of Three New Directors
June 07 2019 - 8:00AM
Business Wire
Frontier Communications Corporation (NASDAQ:FTR) announced today
that Kevin L. Beebe, Paul M. Keglevic and Mohsin Y. Meghji have
been elected to join Frontier’s Board of Directors, effective
immediately.
Messrs. Beebe, Keglevic and Meghji will serve on the Board’s
Finance Committee, which will continue to be chaired by Robert A.
Schriesheim. The Finance Committee’s primary responsibilities are
to evaluate Frontier’s capital structure and consider, evaluate and
negotiate capital markets and/or financing transactions and/or
strategic alternatives. Messrs. Beebe, Keglevic and Meghji will
also serve on the Board’s Audit Committee and Mr. Beebe will serve
on the Board’s Compensation Committee.
In addition, Michael R. McDonnell has resigned from Frontier’s
Board of Directors due to competing time commitments and Mr.
Schrott has resigned from Frontier’s Board of Directors due to
personal considerations. With these changes, the Board now is
comprised of nine directors, eight of whom are independent and four
of whom have been elected in the last year.
Pamela D.A. Reeve, Frontier’s Chairman, stated, “We are
extremely pleased to have Kevin, Paul and Mo join the Board. These
seasoned executives add significant telecommunications, finance and
operational expertise helping companies manage change and create
value for stakeholders. Each brings unique experience to our Board
and they are all well-respected in the financial community. We look
forward to Frontier benefiting from their contributions going
forward. We would also like to thank Mike and Howard for their
service to Frontier, and we wish them all the best in the
future.”
Mr. Beebe has served as President and Chief Executive Officer of
2BPartners, LLC, a partnership that provides strategic, financial
and operational advice to private equity firms and companies in the
technology and telecom industries, since November 2007. From
1998-2007, he served as Group President of Operations at ALLTEL
Corporation, a publicly traded telecommunications services company.
Prior to that, Mr. Beebe served as Executive Vice President of
Operations for 360◦ Communications Co., a publicly traded wireless
communications company from 1996-1998, and from 1983 to 1995 Mr.
Beebe served in various management roles at ATT, Southwestern Bell
and United Telecom/ Sprint.
Mr. Keglevic served as Chief Executive Officer of Energy Future
Holdings, a regulated transmission and distribution business, from
October 2016 to March 2018 and also served as Chief Restructuring
Officer of Energy Future Holdings from December 2013 to March 2018.
Mr. Keglevic served as Executive Vice President, Chief Financial
Officer and Chief Risk Officer at TXU Corporation, an electric
utility company that became Energy Future Holdings when it was
taken private in 2007 as part of a leveraged buyout, from July 2008
to September 2016. Prior to that, Mr. Keglevic served as an audit
partner at PricewaterhouseCoopers LLP (PwC) from 2002-2008 and in
various roles at auditor Arthur Andersen LLP before joining
PwC.
Mr. Meghji founded M-III Partners, L.P., a merchant banking and
advisory firm focused on turnaround and special situations, in
2014. Since 2018, Mr. Meghji has also been Chairman of
Infrastructure and Energy Alternatives, Inc., a publicly traded
engineering, procurement and construction company focusing
primarily on renewable energy. From 2012-2014, Mr. Meghji served in
various executive positions at Springleaf Financial Services, Inc.,
one of the largest U.S. subprime consumer finance companies. Mr.
Meghji was a co-founder of Loughlin Meghji & Company, a
financial restructuring/advisory firm where he served from 2002 to
2011 until he sold his stake. From 1987 to 2001, Mr. Meghji worked
with Arthur Andersen LLP in a variety of roles, finally serving as
a Partner in the firm’s global Corporate Finance/ Restructuring
Group.
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) is committed
to helping customers navigate internet and entertainment services.
As a leader in providing communications services to urban,
suburban, and rural communities in 29 states, Frontier offers a
variety of services to residential customers over its FiOS and
Vantage fiber-optic and its copper networks, including video,
high-speed internet, advanced voice, and Frontier Secure® digital
protection solutions. Frontier Business™ offers communications
solutions to small, medium and enterprise businesses.
Forward-Looking Statements
This document contains "forward-looking statements," related to
future, not past, events. Forward-looking statements address our
expected future business and financial performance and financial
condition, and contain words such as "expect," "anticipate,"
"intend," "plan," "believe," "seek," "see," "will," "would," or
"target." Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. These risks and
uncertainties include, but are not limited to, the factors that are
described in our filings with the U.S. Securities and Exchange
Commission, including our report on Form 10-K and reports on Form
10-Q. These risks and uncertainties may cause our actual future
results to be materially different than those expressed in our
forward-looking statements. We do not undertake to update or revise
these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190607005204/en/
Frontier Communications CorporationINVESTORS:Luke
Szymczak,203-614-5044Vice President, Investor
Relationsluke.szymczak@ftr.comMEDIA:Javier
Mendoza562-305-2345Vice PresidentCorporate Communications and
External Affairsjavier.mendoza@ftr.comBrigid Smith,203-614-5042AVP,
Corporate Communicationsbrigid.smith@ftr.com
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