Bernie Han Unanimously Appointed President and
Chief Executive Officer
Mr. Han Succeeds Daniel McCarthy, Following 29
Years of Dedicated Service to Frontier
Frontier Communications Corporation (NASDAQ: FTR) announced
today that the Company’s Board of Directors has unanimously
appointed Bernard L. “Bernie” Han as President and Chief Executive
Officer and a member of the Board, effective immediately. Mr. Han
succeeds Daniel McCarthy, who is stepping down as President and
Chief Executive Officer and from his position on the Board.
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the full release here:
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Bernie Han (Photo: Business Wire)
Mr. Han brings more than 30 years of experience and significant
operational and financial expertise. During his more than 11 years
in the telecommunications industry at DISH Network, he served as
CFO, COO and as Executive Vice President, Strategic Planning. In
these roles Mr. Han was responsible for a broad portfolio including
assessing new strategies and markets, operations, customer service,
retention marketing, information technology, as well as financial
functions consisting of accounting, treasury, tax, financial
planning and analysis, investor relations and SEC reporting. Mr.
Han was retained by the Finance Committee of the Board as an
advisor beginning October 16, 2019, and has been actively
supporting efforts to strengthen the Company’s financial position
since that time.
Pamela D. A. Reeve, Independent Chairman of Frontier’s Board of
Directors, stated, “We are excited to announce the appointment of
Bernie Han as Frontier’s new CEO. Bernie is a proven industry
leader who has a broad-based background with a long track record of
developing organizational talent and enhancing financial and
operational performance while driving and navigating strategic
shifts in the industry. In addition, he has a passion for serving
customers with new and innovative solutions that meet their
evolving needs with a focus on increasing value for all
stakeholders. He brings a disciplined approach to operations
management, having led turnaround initiatives at DISH Network that
increased profitability, enhanced customer experiences and reduced
churn rate. The Finance Committee and entire Board are confident
that, as CEO, Bernie will further Frontier’s efforts to drive
operational improvements in our business while continuing to
evaluate the Company’s capital structure.”
Ms. Reeve continued, “As we continue to take action to improve
Frontier’s operational, financial and strategic position, now is
the right time to transition leadership. We thank Dan for his
nearly three decades of service to Frontier and tireless commitment
to customers and employees and wish him the best in the
future.”
Mr. Han stated, “Frontier has a strong core business that
maintains the trust of millions of customers across the country,
and I am honored to take on the role of CEO at a time where we have
both challenges to overcome and substantial opportunities ahead. I
look forward to working with the Board of Directors and leadership
team as we continue to execute on our initiatives to drive
operational performance, invest in our business and become a
stronger partner to our residential and enterprise customers.”
Mr. McCarthy stated, “It has been an incredible experience
leading Frontier over the last four years, and I leave knowing the
Company is in great hands with Bernie at the helm of this skilled
and dedicated organization. I remain a firm believer in Frontier’s
future. I look forward to cheering the team on, and I want to thank
everyone I have had the pleasure to work with and learn from during
my time with Frontier.”
About Bernie Han
Bernie Han most recently served as DISH’s Executive Vice
President of Strategic Planning from 2016 to 2018. Prior to that,
he served as Chief Operating Officer of DISH for six years,
overseeing the company's Finance, Marketing, Sales, Customer
Retention, Operations, Information Technology, Product, Programming
and Media Sales organizations. He began his career at DISH as Chief
Financial Officer in 2006.
Mr. Han also has more than 20 years of experience in the airline
industry. He previously worked as Chief Financial Officer at
Northwest Airlines, and Chief Financial Officer and Chief Marketing
Officer at America West Airlines. Earlier in his career, he worked
in financial planning and analysis for American Airlines and as a
systems engineer for Hughes Aircraft Company.
He received his Master of Business Administration, Master of
Electrical Engineering and Bachelor of Science degrees from Cornell
University. Mr. Han currently serves on the Board of Directors of
Frontier Airlines.
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) offers a
variety of services to residential and business customers over its
fiber-optic and copper networks in 29 states, including video,
high-speed internet, advanced voice, and Frontier Secure® digital
protection solutions.
Forward-Looking Statements
This press release contains "forward-looking statements,"
related to future events. Forward-looking statements address
Frontier’s expected future business, financial performance, and
financial condition, and contain words such as "expect,"
"anticipate," "intend," "plan," "believe," "seek," "see," "may,"
"will," "would," or "target." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For Frontier, particular uncertainties that could cause actual
results to be materially different than those expressed in such
forward-looking statements include: declines in revenue from
Frontier’s voice services, switched and non-switched access and
video and data services that it cannot stabilize or offset with
increases in revenue from other products and services; Frontier’s
ability to successfully implement strategic initiatives, including
opportunities to enhance revenue and realize productivity
improvements; Frontier’s ability to repay or refinance its debt
through, among other things, accessing the capital markets, notes
repurchases and/or redemptions, tender offers and exchange offers;
adverse changes in the ratings given to Frontier’s debt securities
by nationally accredited ratings organizations; covenants in
Frontier’s indentures and credit agreements that may limit
Frontier’s operational and financial flexibility as well as its
ability to access the capital markets in the future; adverse
changes in the credit markets, which could impact the availability
and cost of financing; competition from cable, wireless and
wireline carriers, satellite, and OTT companies, and the risk that
Frontier will not respond on a timely or profitable basis;
Frontier’s ability to successfully adjust to changes in the
communications industry, including the effects of technological
changes and competition on its capital expenditures, products and
service offerings; risks related to disruptions in Frontier’s
networks, infrastructure and information technology that may result
in customer loss and/or incurrence of additional expenses; the
impact of potential information technology or data security
breaches or other cyber attacks or other disruptions; Frontier’s
ability to retain or attract new customers and to maintain
relationships with customers, employees or suppliers; Frontier’s
ability to secure, continue to use or renew intellectual property
and other licenses used in our business; Frontier’s ability to hire
or retain key personnel; Frontier’s ability to realize anticipated
benefits from recent acquisitions; Frontier’s ability to dispose of
certain assets or asset groups on terms that are attractive to it,
or at all; Frontier’s ability to effectively manage its operations,
operating expenses, capital expenditures, debt service requirements
and cash paid for income taxes and liquidity; Frontier’s ability to
defend against litigation and potentially unfavorable results from
current pending and future litigation; the effects of state
regulatory requirements that could limit Frontier’s ability to
transfer cash among its subsidiaries or dividend funds up to the
parent company; the effects of governmental legislation and
regulation on Frontier’s business; the impact of regulatory,
investigative and legal proceedings and legal compliance risks;
government infrastructure projects that impact capital
expenditures; continued reductions in switched access revenue as a
result of regulation, competition or technology substitutions; the
effects of changes in the availability of federal and state
universal service funding or other subsidies to Frontier and its
competitors; Frontier’s ability to meet its remaining CAF II
funding obligations and the risk of penalties or obligations to
return certain CAF II funds; Frontier’s ability to obtain future
subsidies, including participation in the proposed RDOF program;
Frontier’s ability to effectively manage service quality and meet
mandated service quality metrics; the effects of changes in
accounting policies or practices; the impact of potential future
impairment charges with respect intangible assets or additional
losses on assets held for sale; the effects of changes in income
tax rates, tax laws, regulations or rulings, or federal or state
tax assessments, including the risk that such changes may benefit
Frontier’s competitors more than it, as well as potential future
decreases in the value of Frontier’s deferred tax assets; the
effects of increased medical expenses and pension and
postemployment expenses; Frontier’s ability to successfully
renegotiate union contracts; changes in pension plan assumptions,
interest rates, discount rates, regulatory rules and/or the value
of Frontier’s pension plan assets, which could require Frontier to
make increased contributions to its pension plans; the effects of
changes in both general and local economic conditions in the
markets that Frontier serves; the effects of severe weather events
or other natural or man-made disasters, which may increase
operating and capital expenses or adversely impact customer
revenue; and the risks and other factors contained in Frontier’s
filings with the U.S. Securities and Exchange Commission, including
its most recent report on Form 10-K and its Form 10-Q for the
quarter ended September 30, 2019. These risks and uncertainties may
cause actual future results to be materially different than those
expressed in such forward-looking statements. Frontier has no
obligation to update or revise these forward-looking statements and
does not undertake to do so.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191203005949/en/
Investors: Luke Szymczak 203-614-5044 Vice President,
Investor Relations luke.szymczak@ftr.com
Media: Javier Mendoza 562-305-2345 Vice President,
Corporate Communications and External Affairs
javier.mendoza@ftr.com
Brigid Smith 203-614-5042 AVP, Corporate Communications
brigid.smith@ftr.com
Meaghan Repko / Jed Repko Joele Frank Wilkinson Brimmer Katcher
212-355-4449
Frontier Communications (NASDAQ:FTR)
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