Prusch will become president and CEO immediately, supplanting Clearwire's interim leader, John Stanton, who will become the executive chairman of the board of directors. Prusch -- formerly Clearwire's CFO -- has been responsible for the company's day-to-day operations since CEO Bill Morrow left on March 10 this year.
Before joining Clearwire, Prusch served as president and CEO of Borland Software Corp. , where he had previously acted as CFO, heading up the restructuring of the company.
Why this matters Clearwire needs money -- at least $600 million -- to kick-start its 4G service with a faster Long Term Evolution Time Division Duplex (LTE TDD) overlay. Part of Prusch's job will be to figure out where the Kirkland, Wash.-based company can get funding, as its options seem to be dwindling.
For more Read up on Clearwire's executive changes and funding hunt:
- Clearwire & LightSquared: Stymied by Borrowing Woes?
- Clearwire CEO & Senior Execs Resign
- Intel to Cut Its Stake in Clearwire
- McCaw Quits Clearwire
- Clearwire Swaps Out CEO
— Dan Jones, Site Editor, Light Reading Mobile