Frontier names directors to finance committee; bonds dip

Jun. 07, 2019 10:23 AM ETFrontier Communications Parent, Inc. (FYBR)By: Jason Aycock, SA News Editor161 Comments
  • Along with naming Sheldon Bruha to the job of permanent chief financial officer, Frontier Communications (FTR -5.1%) named three new directors to its board.
  • Kevin Beebe, Paul Keglevic and Mohsin Meghji join the board effective immediately, and will serve as independent directors on the finance committee, charged with evaluating the company's capital structure.
  • They bring expertise in strategic advice: Beebe is CEO of 2BPartners, an adviser to telecoms, while Meghi founded M-III Partners, an adviser focused on turnarounds and special situations.
  • The company's bonds are now leading declines in the high-yield market, Bloomberg notes, with its 2025 11% notes now yielding nearly 22%.
  • Along with those moves, Michael McDonnell has resigned from the board due to competing time commitments and Howard Schrott has resigned from the board due to personal considerations.
  • That leaves the board at nine directors, eight of them independent.

Recommended For You

Comments (161)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.