Windstream Holdings announced on Thursday that Tony Thomas was replacing Jeff Gardner as the company’s new president and CEO.
In order to smooth over the transition, Gardner will stay on board as a senior adviser to Thomas and as a member of the company’s board through Feb. 1 of next year. Thomas was also named a director.
“I am proud to have led Windstream from its creation in 2006. It has been a privilege to work with our Board, leadership team and talented associates across the organization,” Gardner said. “The Board and I agree that a change in perspective is needed in order to accelerate the pace of change within the company and to more effectively respond to the rapidly evolving needs of our customers. The Board’s confidence in Tony is well placed. His leadership and strong financial acumen will benefit investors and customers as he leads Windstream in the future.”
In October, Thomas was named the president of Windstream’s real estate investment trust (REIT) operations and was instrumental in developing the plan to spin off Windstream’s network assets as a REIT. He previously held the position of chief financial officer for Windstream for the past nine years.
“On behalf of the Board, I thank Jeff for his contributions to the company over the past decade. He led the company’s successful spinoff from Alltel Corp. and its transformation from a rural wireline telephone business to a Fortune 500 company and nationwide provider of advanced network communications and technology solutions,” said Jeff Hinson, chairman of the Windstream Board of Directors. “He also has served as a leading advocate for the telecom industry.
“Tony Thomas’ telecom experience and in-depth knowledge of Windstream give the Board confidence that he is the right executive to lead the company, position the enterprise and consumer businesses for long-term success and drive revenue growth.”
Thomas said he remained committed to executing the REIT spinoff.
“I am honored by this appointment and by the Board’s confidence,” said Thomas. “It has been a privilege to work with Jeff Gardner throughout my career.
Windstream Director Francis X. “Skip” Frantz will lead the process to select a new president and CEO of the REIT. As previously announced, Frantz will serve as chairman of the REIT’s Board. He will leave the Windstream Board upon close of the transaction, which is anticipated to occur in the first half of next year.
On Friday, Thomas named Bob Gunderman chief financial officer for the company, effective immediately after serving as interim CFO since October. He’ll keep his current treasury duties while the company conducts a search for a permanent treasurer.
“I am pleased to promote Bob to CFO. He is a skilled and seasoned finance leader with intimate knowledge of our business and the opportunities in front of us. Alongside our talented finance organization, Bob will play an integral role in driving improved operating performance and profitability at Windstream,” Thomas said.
Thomas also announced three executive appointments at Windstream:
• David Works, executive vice president and chief human resources officer, has been named president of enterprise.
• David Redmond, president of consumer, has been named president of consumer and small and medium business.
• Mike Shippey, senior vice president of carrier solutions, has been named president of carrier.
Windstream had previously announced it was trimming 350 jobs by the start of this month.