Frontier Communications has appointed current Treasurer Sheldon Bruha to serve as interim chief financial officer as the operator evaluates candidates to replace R. Perley McBride, who is scheduled to leave his position at the end of this month.
Frontier Communications Corp. (NYSE: FTR) made its plans known in an Aug. 23 SEC filing. Bruha, who joined Frontier in February 2018 as corporate treasurer, previously held corporate financial positions at Cable & Wireless Communications.
Upon news of McBride's resignation "for personal reasons" in June, Frontier's stock price fell. On August 8, however, Cox Communications announced McBride as its new executive vice president and CFO, reporting to President Pat Esser. (See Frontier CFO Resigns, Stock Price Drops.)
McBride was asked to rejoin Frontier in September 2016 (see the offer of employment letter here), after previously working at the provider between 2004 and 2010.
Some analysts are optimistic that a different financial leader could breathe new life into Frontier, which faces ongoing financial pressures, due to an ill-conceived acquisitive spree as well as a scheduled lawsuit. However, Frontier has given no timeline for when it will name a new permanent CFO.
— Alison Diana, Editor, Broadband World News. Follow us on Twitter or @alisoncdiana.