Cincinnati Bell's Fox to take over CFO reins from Freyberger
Cincinnati Bell (NYSE: CBB) has named 12-year company veteran Leigh R. Fox as its next CFO, succeeding Kurt Freyberger who is leaving the company at the end of the month to pursue new opportunities.
Fox has plenty of experience in dealing with the telco's finances.
Since joining Cincinnati Bell in July 2011, Fox served in three key positions, including VP of finance for Cincinnati Bell Technology Solutions and most recently as the senior vice president of finance, before being named as the company's chief administrative officer earlier this year. He also played a major role in developing the telco's Cyrus One (Nasdaq: CONE) data center business.
As part of his agreement with the company, Freyberger has entered into a six-month consulting arrangement to provide assistance and expertise on various financial matters relating to the telco's business.
The CFO transition comes at a pivotal time in Cincinnati Bell's history. Like its larger Bell brothers AT&T (NYSE: T) and Verizon (NYSE: VZ), Cincinnati Bell has found that its fiber-based broadband and TV offering Fioptics is helping to offset legacy voice revenue losses.
While it has not said when it will announce Q3 2013 earnings, the telco reported in the second quarter that Fioptics rose 50 percent year-over-year in the second quarter to $24 million.
- see the release
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