Carl Grivner, the president and CEO of XO Communications (OTC BB: XOHO), has decided to leave the company.
Grivner, who has served as XO's CEO and as a company director since 2003, come on the heels of its 2010 earnings where it reported a net loss of $11.8 million on revenues of $1.529 billion.
He said his "decision to leave the company to pursue other opportunities is a personal and difficult one."
Although XO has not named a replacement, the company's board said it will be conducting search for internal and external CEO candidates.
As the board searches for a replacement, Grivner said he he'll assist the company, while company CFO Laura Thomas will oversee corporate functions.
For more:
- Channel Partners has this article
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