4G broadband service provider Clearwire (NASDAQ:CLWR) announced a series of management changes after the close of trading yesterday.
Clearwire said CEO Bill Morrow has resigned, citing persona, reasons.
Chairman John Stanton has been named CEO on an interim basis, and will continue to serve as chairman.
Morrow will serve as an advisor to the company in a transition period until a permanent replacement can be appointed. A search committee is looking to hire a new CEO.
The company’s chief financial officer, Erik Prusch, has been promoted to chief operating officer, and senior vice president and treasurer Hope Cochran has been promoted to CFO.
Chief commercial officer Mike Sievert and CIO Kevin Hart are also both leaving the company to pursue other opportunities.
Clearwire noted that the leadership changes are not expected to impact its progress on an agreement with Sprint (NYSE:S) to resolve wholesale pricing disputes, which it believes is imminent.
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