clwr has a new CEO, again. The wireless upstart has promoted its Chief Operating Officer Erik Prusch to the positions of both President and CEO. The current CEO, John Stanton, will return to his chairmanship on the board of directors as Executive Director. The change comes five months after Stanton took over the job from Bill Morrow in an interim role, at which time Prusch was promoted from CFO and other new faces took over at the CXO level as well.
Clearwire, of course, has been busy making the wireless space exciting for the past few years, and is currently frantically cutting costs in a effort to stabilize its finances and thus regain the favor of investors. Most recently, they committed to building out LTE Advanced in urban markets - something that will require more funding of course.
More certainty for Clearwire's leadership team will certainly not hurt, and the disruption that might come with bringing in new blood has been avoided for now. That said, Prusch certainly has his work cut out for him - the hole Clearwire is trying to dig its way out of remains steep and slippery.
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