Frontier has named Perley McBride as its new EVP and CFO, reflecting the telco's efforts to sharpen its focus on operations and cost cutting as it integrates the Verizon properties into its own fold.
McBride assumes the CFO post from John Jureller, who is stepping down to pursue other opportunities after a transition period.
A 20-plus year telecom veteran, McBride returns to Frontier after serving as CFO first of Leap Wireless, then of Cable & Wireless Communications Plc, before these companies were acquired by AT&T and Liberty Global, respectively.
McBride previously served two tours of duty at Frontier. He served in several senior financial management roles at Frontier between 1999 and 2010, and also between 1994 and 1997.
Frontier said that during his earlier time with the company, “he created a culture of expense discipline that enabled Frontier to achieve a consistent track record of sustaining industry-leading margins.”
Prior to coming to Frontier, he also worked in the finance department at Sprint.
Analysts praised McBride’s appointment, saying that it reflects Frontier’s growing emphasis on operations.
“Our sense is at this point given it is beyond the close of its VZ acquisition, FTR is ready for a more operational focused CFO to move forward from the integration in these assets,” said Jennifer Fritzsche, senior analyst for Wells Fargo, in a research note. “Given Jureller's background is more focused on capital markets, now that the VZ deal is completed, this was the logical time to make the transition.”
UBS agreed, saying that “we believe this move coincides with management's shifting focus to operations and cost cutting, aligning well with McBride's track record and familiarity with the business.”
Realigning its management team has been a key focus for Frontier, particularly as it looks to overcome the issues it confronted after switching over the Verizon assets in three states to its own systems in April.
- see the release
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