Alltel Announces Plans for New Management Structure.Team Will Be in Place at Close of Pending Acquisition LITTLE ROCK, Ark. -- Alltel today announced a new management structure that will be effective at close of its pending acquisition. Alltel is expected to close its merger with TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général Capital and GS Capital Partners (GSCP GSCP Goldman Sachs Capital Partners (private equity division) GSCP Goa Schools Computers Project GSCP Global Social Compliance Programme GSCP Go Server Client Protocol GSCP General Support Center Pirmasens ) on Nov. 16. At close, Jeffrey Fox, Alltel's group president of shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. , will become chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the company. Fox will report to Scott Ford, who will remain as president and chief executive officer. Also reporting to Ford will be Rick Massey, in a new role as chief strategy officer while continuing as general counsel; C.J. Duvall, executive vice president of human resources; and Sharilyn Gasaway, executive vice president and chief financial officer. John Ebner and Kerry Brooks also will report to Ford. Ebner, currently senior vice president of investor relations Investor relations The process by which the corporation communicates with its investors. and treasurer, will lead sponsor relations to coordinate activities with the private equity groups. Brooks, currently executive vice president of wireless wholesale operations, will take a new role leading the transformational steps Alltel's business will undertake in 2008 and thereafter. Holly Larkin, currently senior vice president of corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , will become an officer of the company in her new role as treasurer and secretary. Larkin will report to Gasaway. Kevin Beebe, currently group president of operations, has accepted a role as consultant to Alltel and TPG and GSCP. In his new role, Beebe will work with both firms on their current portfolios and new investment possibilities. "This structure will ensure that Alltel continues to build momentum in the marketplace as we enter a new phase in our history," Ford said. "As COO, Jeff will maintain Alltel's tradition of operational excellence, which includes focusing on superior customer service. This change also gives Kevin a tremendous opportunity to work with two of the leading private equity firms in the world while continuing to assist the Alltel team." Alltel operates America's largest wireless network, which delivers voice and advanced data services nationwide to over 12 million customers. Headquartered in Little Rock, Ark., Alltel is a Forbes 500 company with annual revenues of nearly $8 billion. Alltel, NYSE NYSE See: New York Stock Exchange : AT www.alltel.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion