Clearwire Shuffles Exec Deck
New Clearwire LLC (Nasdaq: CLWR) CEO William Morrow is overseeing some changes at the top of the WiMax operator, just as the company may be looking for ways to get more funding for network expansion.
Clearwire said Monday that it is hiring ex-Borland Software Corp. CFO -- and CEO -- Erik Prusch as its new chief financial officer (CFO). Prusch will report to Morrow and starts crunching numbers today.
Prusch was CFO at Borland until May 2009, since joining the company in 2006. He was also appointed acting president and CEO in January 2009.
The former head of Vodafone Ireland , Teresa Elder, meanwhile, will join Clearwire in a newly created role as president of strategic partnerships and wholesale. The role could be particularly important as Clearwire partners -- Comcast Corp. (Nasdaq: CMCSA, CMCSK), Sprint Corp. (NYSE: S), and Time Warner Cable Inc. (NYSE: TWC) -- are all now introducing wireless broadband services based on Clearwire's mobile network. (See Sprint's Summer of WiMax and Sprint's '4G' Shadow Network.)
Now former-Clearwire CFO, David Sach, is said to have left the company to pursue other opportunities. Chief strategy officer, Scott Richardson, is leaving that role but will continue as a "strategic advisor" to the firm.
The management moves come at a crucial point for Clearwire. The firm said recently that it plans to launch the Clear mobile WiMax service in at least 25 markets by the end of the year.
The operator will, however, need more funding to reach its target of 120 million people covered by the end of 2010. CEO Bill Morrow said recently that Clearwire has enough cash on hand -- $2.5 billion -- to deploy a network that can reach 75 million potential users, although he is confident the operator can get more money. (See Clearwire 'Confident' on Funding.)
— Dan Jones, Site Editor, Unstrung