Continental Cablevision repositions financial unit to oversee growth.BOSTON--(BUSINESS WIRE)--April 15, 1997-- Eric Krauss Named Senior Vice President, Finance Continental Cablevision, the domestic cable division of U S WEST Media Group (NYSE NYSE See: New York Stock Exchange :UMG UMG Universal Music Group UMG Universidad Mariano Gálvez de Guatemala (Mariano Galvez University of Guatemala) UMG Upgraded Metallurgical Grade (silicon) UMG Unlicensed Medical Graduate ), today announced several personnel appointments to strengthen its financial management capabilities and oversight of the company's growth and development. P. Eric Krauss, formerly vice president, treasurer and interim controller of Continental, has been named senior vice president, finance. Krauss will oversee financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , accounting, and corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. for Continental and will report to Doug Holmes, executive vice president, finance and strategy. In addition, a new financial analysis group has been created with three key positions and a new regional CFO See Chief Financial Officer. position has been created in each region. Krauss joined Continental in 1990 as assistant treasurer and has served as treasurer, then vice president, treasurer and interim controller. Before Continental, Krauss worked in the Media and Communications Division at The First National Bank of Boston. "Eric has been a mainstay of our treasury operation for seven years and was a key player in guiding us through a very challenging merger transition. His expert knowledge of our financial data and accounting procedures, coupled with his outstanding management skills, will be of great benefit to us as we move ahead," said William T. Schleyer, president and COO of Continental. Reporting to Krauss will be the corporate controller and three directors of financial planning and analysis: Larry Christofori, formerly an assistant treasurer with Continental; Ben Gomez, also a former assistant treasurer with Continental. Steve Makowski, former director of finance, multimedia for U S WEST Media Group. Bob Hirsch, formerly vice president, operations for U S WEST Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , has been named vice president and corporate controller responsible for consolidation of regional financial results, external financial reporting, internal audit, tax and corporate accounting. Hirsch has been with U S WEST for 13 years and has held various positions, including director, corporate accounting for U S WEST headquarters. Prior to U S WEST, Hirsch was with Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing & Co. "These moves begin to create a financial capability focused on the economic and operational analysis that is necessary to lead the business as we move forward," said Holmes. "We are repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. the finance organization to be an active business partner to operating managers." In the Central Region, Jeffry Scheuerman, formerly vice president and regional controller, has been appointed regional CFO. William O'Brien
In the Atlanta Region, Michael Ricks has been appointed CFO. He has 13 years experience in the cable TV and telecommunications industries. During the past six years, Ricks has been involved with management oversight and analytical guidance with U S WEST working in the areas of investment strategies, mergers and acquisitions, international business development, the procurement of financing, and budgeting and planning. "The new regional CFOs will strengthen our ability to provide financial decision support to our field units. It is critical that we provide this support as we move into a more competitive environment and significantly increase our capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. ," Holmes said. Continental Cablevision, a unit of U S WEST Media Group is the nation's third largest broadband telecommunications provider, serving more than 4.8 million subscribers in 19 states. U S WEST Media Group is involved in domestic and international cable and telephony, wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , and directory and information services See Information Systems. . For 1996, Media Group reported proportionate revenues of $6.4 billion. Media Group is one of two major groups that make up U S WEST, a company in the connections business, helping customers share information, entertainment and communications services in local markets nationwide. U S WEST's other major group, U S WEST Communications, provides telecommunications services in 14 states. Please visit our Web sites at http://www.continental.com and http://www.uswest.com CONTACT: Continental Cablevision Rob Stoddard, 617/854-3138 |
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