CFO Peter Cross leaves Eircom (Ireland)
Ireland’s leading telecommunications operator, Eircom Group PLC spokesperson has revealed that the Chief Financial Officer has left the company.
Peter Cross’s departure, announced internally on Tuesday, was effective immediately. He had been with the company three and a half years. The company didn’t reveal who would take over as CFO.
The reasons for Cross’s departure were not immediately clear. It wasn’t due to the financial performance of the company, the spokesman stated.
An analyst tracking the company has said that Cross’s departure was a negative for the company’s creditors.
Cross’s departure follows that of corporate affairs director Andrew Haire last Friday, which the company said was for personal reasons. The departures leave eight members in the senior management team.
Sprint Nextel appoints Joseph J. Euteneuer as New CFO (USA)
Sprint Nextel has announced that Joseph J. Euteneuer, 55, has agreed to become Chief Financial Officer (CFO) of Sprint, succeeding Bob Brust, who is retiring.
Sprint expects Euteneuer, who currently serves as executive vice president, chief financial officer for Qwest Communications, to join the company following the completion of the proposed merger between Qwest and CenturyLink. Brust, 67, will remain as CFO until that time.
According to Dan Hesse, Sprint CEO, he is pleased to have a talented executive such as Joe Euteneuer join the Sprint leadership team. Joe has an excellent reputation in the industry and has a strong background in a variety of financial disciplines, including finance and accounting, mergers and acquisitions, and financial operations.
According to Joe Euteneuer, he is looking forward to joining the Sprint team in 2011. Watching Sprint’s progress over the last few years has been remarkable. He is excited to be a part of a company that has so much opportunity ahead of it, and is looking forward to making a contribution.
Hesse added that he wants to thank Bob Brust for his service over the past few years. He can’t overstate the significance of Bob’s contribution to Sprint’s turnaround. He provided discipline and financial leadership that helped to put us on a solid financial path.
Garmin-Asus Smartphone Venture comes to an end
Taiwan’s Asustek Computer has confirmed that it is ending its smartphone cooperation with in-car navigation vendor, Garmin. It is also estimated that Garmin will close its own smartphone venture, as the company has previously hinted it might.
Both the companies announced their joint venture in February 2009.
As per the reports citing Canalys analyst Tim Shepherd, the smartphone market is seeing huge growth, but the Garmin-Asus alliance has, to date, delivered disappointing volumes. Garmin CFO, Kevin Rauckman recently revealed that the co-branded smartphones had managed just US$27 million in revenue during the second quarter.
Few days back, rival navigation services provider, TomTom announced a deal to incorporate its software into HTC supplied smartphones.
Spice i2i appoints Dilip Modi as the new Executive VC (India)
Spice Group firm Spice i2i has appointed Dilip Modi as the Executive Vice Chairman of the company.
Dilip Modi is the son of BK Modi, who is the promoter of Spice Group. The board has also appointed Dato Eric Chuah as the Managing Director of the company, which will be effective from October 1. Chuah would focus on the mobile device business and thus help the company grow in Asia, India and the rest of the world.
Dilip Modi is also the Managing Director of Spice Mobility in India, the holding company of the business in the mobility ecosystem, including mobility devices, mobility & digital lifestyle retail and mobility value added services and applications.
According to B K Modi, Spice Group Global Chairman, Spice i2i will continuously innovate to create infinite possibilities for the future, constantly creating value in mobile internet, communication and entertainment space.
Maneesh Tripathi would continue to be the Chief Executive Officer of the Spice i2i Group of companies and KTS and Anand will continue working as the Chief Financial Officer.
Spice i2i offers voice, data and computing services with a leading edge in mobile Voice over Internet Protocol technology. The company is also listed on the Singapore Stock Exchange.
Verizon names McAdam as COO
Verizon Communications Inc. has named the head of its wireless division, Lowell C. McAdam, as its Chief Operating Officer, setting him up as a successor to the CEO.
The company announced this on Monday clarifying the succession at Verizon after it said a week ago that chief financial officer John Killian plans to retire at the end of the year. He has been at the job for a year and a half. CEO Ivan Seidenberg has led the company for the past decade.
McAdam will start in his new job Oct. 1.The company also named Francis Shammo as chief financial officer.
According to Drake Johnstone, an analyst at Davenport & Co. in Richmond, Virginia, McAdam’s been doing very well for Verizon Wireless, especially when one considers the potential advantage AT&T would have, given consumer preference for the iPhone. This is a good choice for Verizon to promote him.
New Zealand Telecom’s CFO resigns
www.WirelessFederation.com/news: The chief financial officer of New Zealand’s Telecom Corp, Russ Houlden is to leave the company, as a part of the fast management changes taking place in the telco. Houlden joined Telecom Corp as CFO in April 2008 and will now take up a new finance chief post at an as yet unnamed FTSE 100 company.
By accepting the offer, he will get a chance to return back to UK. While praising Houlden for his contribution to the company during a time of profound change and significant challenges, Telecom Corp CEO Paul Reynolds opined that Russ has brought great rigor, discipline and insight to its financial planning processes as the company’s transformation gathered pace.
Houlden’s departure date has yet not been finalized but it has been made clear that he will remain with the company until a successor is in place. Houlden’s departure from the company is third in the row after wholesale and international division chief Matt Crockett resignation and networks and transformation chief Frank Mount dismissal.
US Mobile Market consolidation not necessary- Deutsche Telekom CFO
Deutsche Telekom CFO, Timotheus Hoettges told Bloomberg News that he sees no need for further consolidation of the U.S. mobile-phone market.
He mentioned that there are four national players in the U.S. market for 300 million households, whereas in Europe, there are 350 million households with close to 70 operators.
Deutsche Telekom’s current focus in the U.S. is on expanding its 3G network. It is investing $3.5 billion euros in the network in 2009. He said that the mobile data market in the US is booming and they must participate in that now.
On the Issue of 4G networks, there is a possibility that T-mobile could provide funding in exchange for access to ClearWire’s 4G network. Verizon and AT&T are already buliding independent 4G networks.
David Moffatt is leaving Telstra
Telstra’s Group MD-Consumer Marketing, David Moffatt is to leave the company. Telstra claims he will remain in his position for six months or until a successor is found.
Moffatt started at Telstra as CFO and Group MD for Finance and Admin in 2001 and later became Group MD – Consumer Mktg in 2003.
He moved to his current position in October 2003, taking responsibility for Telstra’s mobile and fixed-line communications, broadband and entertainment services, and managing the Telstra Shop chain.
Moffatt was responsible for bringing GE Capital, into Australia and New Zealand as CEO. He later became CEO of GE’s Australian and New Zealand business.
