Joining Clearwire will be Erik Prusch as Chief Financial Officer, and Teresa Elder as President of Strategic Partnerships and Wholesale

August 31, 2009

3 Min Read

KIRKLAND, Wash. -- Clearwire Corporation (NASDAQ: CLWR), under its recently named Chief Executive Officer, William T. (Bill) Morrow, today announced the appointment of two new members of the company’s executive team to lead its expansion efforts and execute on Clearwire’s plans to deploy its 4G WiMAX network across the United States.

Joining Clearwire will be Erik Prusch as Chief Financial Officer, and Teresa Elder as President of Strategic Partnerships and Wholesale.

“We are fortunate to have such accomplished executives join our leadership team. Their successful track records at growing businesses by introducing innovative consumer technologies will be an asset to our firm,” said Morrow. “Erik and Teresa each possess an impressive set of proven leadership skills that will enhance our ability to execute on the company’s vision. I am confident that we have assembled a team that will lead the company forward to best serve our customers, partners and shareholders.”

New Clearwire Executives

Erik E. Prusch joins Clearwire today as Chief Financial Officer, responsible for the company’s accounting, finance, tax, reporting and investor relations functions. Throughout his career he has successfully enabled businesses through periods of rapid growth, operational scaling, and expansion financing. Prusch was most recently President and Chief Executive Officer of Borland Software, where he also previously served as Chief Financial Officer, leading the restructuring of the company and returning the business to profitability. Prior to Borland, he was Vice President of Finance in Intuit’s Turbo Tax division. Prior to Intuit, he served as Chief Financial Officer of Identix Incorporated. Before this, Prusch served as Vice President and Chief Financial officer, Finance and Operations at Gateway Computers, Incorporated. He began his career at Touche Ross and PepsiCo. Prusch holds a B.A. from Yale University, and earned an M.B.A. from the Stern School of Business at New York University. Prusch will report to Morrow.

Teresa L. Elder assumes the newly created position of President of Strategic Partnerships and Wholesale where she will oversee Clearwire’s wholesale operations, which includes the services sold by the company’s strategic investors using Clearwire’s 4G WiMAX network. Most recently, Elder was CEO of Vodafone, Ireland – a wholly owned subsidiary of Vodafone Group, PLC. During her time at Vodafone, the Ireland subsidiary was the local market leader with 2.2 million customers, more than $2 billion in revenue, more than 2,000 employees, and had among the highest data usage rates and ARPUs in the world. Before joining Vodafone, Elder served as President, West of AT&T Broadband (now part of Comcast). In this role, she was responsible for seven million customers, more than $4 billion in annual revenues, and led a team of 15,000 employees. Prior to this Elder was Senior Vice President, West at MediaOne Group; and Vice President, Operations – National Markets at MediaOne. Elder holds a B.S. in Business Administration from Creighton University, and a M.S. in Management from Stanford University. She will report to Mike Sievert, Chief Commercial Officer, and serve as a member of Morrow’s executive committee.

In addition to these new executive team members, the company announced that Scott Richardson, who has served as Clearwire’s Chief Strategy Officer, will leave the company, but continue to serve as a strategic advisor. “We are pleased that Scott will continue to offer his 4G WiMAX expertise and guidance in an advisory capacity for the foreseeable future,” said Morrow. Morrow will oversee strategy for the company, and Sievert will oversee product development.

Also, as a part of today’s appointments, the company announced that David Sach, Chief Financial Officer, will leave the company to pursue new opportunities. “We would like to thank David for his contributions to the company, and wish him all the best,” said Morrow.

Clearwire LLC (Nasdaq: CLWR)

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