– USA, CT – Frontier Communications Corporation (OTC: FTRCQ) today announced its intention to appoint Nick Jeffery as the next President and CEO, effective March 1, 2021, succeeding Bernie Han, who will step down as President and CEO on March 1, 2021.
Robert Schriesheim, Chairman of the Finance Committee of the Board, said, “We are pleased to commence the next phase in our ongoing transformation as we prepare for emergence from Chapter 11 by announcing our intent to name Nick Jeffery as our next CEO. As part of a leadership transition, we previously announced that John Stratton would be named Executive Chairman upon emergence from Chapter 11. Concurrently, the search committee was already fully engaged in evaluating the management needs of Frontier. We are now at a point of a natural evolution in our transformation and, following a rigorous process, the search committee concluded that Nick is the right CEO to lead Frontier through its next phase of investment and profitable growth. On behalf of the Finance Committee and Board, I want to thank Bernie for his leadership in executing Frontier’s operational turnaround while managing the unprecedented challenges of the COVID-19 pandemic. Bernie has demonstrated his world-class skills as a CEO operator, managing large-scale complexity with a relentless focus on driving performance and emphasizing accountability. His contributions have helped to reposition Frontier as a stronger, more resilient business, and we appreciate his willingness to guide the CEO transition and remain on the Board through transition.”
John Stratton, incoming Executive Chairman of Frontier’s Board upon emergence, commented, “Since becoming a Board Observer of Frontier in May 2020, I’ve developed strong confidence that the Company can emerge as one of the nation’s leading broadband providers in the markets it serves. Our search process identified Nick Jeffery as the ideal CEO to take Frontier to the next level. Throughout his career, he’s demonstrated a keen ability to revitalize the organizations he leads, delivering operational and financial improvement while relentlessly focusing on the needs of his customers. These skills will be critical on Frontier’s path to drive operational efficiency, deliver an exceptional customer experience, and achieve profitable growth. I look forward to collaborating with Nick as I assume my duties as Executive Chairman.”
Mr. Han will remain on the Board of Directors and guide the CEO transition until emergence from Chapter 11, at which point Mr. Jeffery will join the Board.
Mr. Han said, “It has been an incredible experience leading Frontier. Throughout the challenges over the last year, our Frontier colleagues have continued to support one another and our customers, and through their commitment, we have made substantial progress strengthening Frontier’s financial and operational position. There is still important work to do in unlocking Frontier’s full potential, and I am excited to facilitate the transition and pass the CEO baton to someone with Nick’s outstanding track record. I want to again thank the entire Frontier team for their support as we see the chapter 11 process through to completion.”
About Nick Jeffery
Mr. Jeffery brings nearly 30 years of operational expertise and leadership in the telecommunications industry. Most recently, he served as CEO of Vodafone UK, a leading wireless and wireline operator, overseeing one of Vodafone Group Plc’s largest businesses through a successful four-year customer-centric turnaround and transformation. During his tenure, Vodafone UK returned to revenue and market share growth and achieved improvements to its net promoter score, churn, and wider customer and employee satisfaction. Vodafone UK also reduced its operating expenses, delivered significant EBITDA growth, increased its free cash flow, and became the fastest-growing home broadband provider in the UK. Mr. Jeffery also spent over a decade at Cable & Wireless, one of the world’s largest wireline companies, where he led the UK and international markets business units.
Mr. Jeffery commented, “I am honored to be appointed Frontier’s next CEO, and I am excited to lead the Company in its next phase. Frontier owns a unique set of assets and maintains a competitive market position. My immediate focus will be on serving our customers as we enhance the network through investments in our existing footprint and adjacent markets while building operational excellence across the organization. I am committed to delivering world-class customer service. I look forward to speaking and meeting with our employees while working with Bernie, the Board, and the leadership team to ensure a seamless transition.”
Mr. Jeffery was appointed CEO of Vodafone UK in September 2016 and has held numerous positions at Vodafone Group, the world’s second-largest international cellular operator, the largest home broadband operator in Europe, and the second-largest TV distributor in Europe, since joining the company in 2004. Notably, Mr. Jeffery served on Vodafone Group’s Executive Committee since 2013, as CEO of Vodafone Group Enterprise from 2013 to 2016 and as CEO of Vodafone Group’s acquired Cable & Wireless Worldwide operations from 2012 to 2013. During that time, he demonstrated a proven ability to grow the business through the launch and successful scaling up of new service lines, both organically and in-organically, including Internet of Things, Cloud, Security, and Group Carrier Services. Before Vodafone Group, he served as Head of Worldwide Sales and European Managing Director at Ciena Inc. from 2002 until 2004. He began his career with Cable & Wireless Plc (Mercury Communications) in 1991 where he led the company’s UK and international markets business units.
Mr. Jeffery currently serves as a non-executive director of Dialog Semiconductor plc. He received his Bachelor of Science in Economics from the University of Warwick.
About Frontier Communications
Frontier Communications Corporation offers a variety of services to residential and business customers over its fiber-optic and copper networks in 25 states, including video, high-speed internet, advanced voice, and Frontier Secure digital protection solutions. Frontier Business offers communications solutions to small, medium, and enterprise businesses.
For more information: https://frontier.com/
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