Precisely five months since the last time Clearwire had a permanent CEO in place, a new boss has been selected to take the place of Bill Morrow. Being promoted to the position is Erik Prusch, the company's Chief Operating Officer, who will be faced with a monstrous challenge: secure roughly $600 million in capital to fund Clearwire's buildout of LTE. If none can be found, the company will be completely out of cash by the end of 2012. Fortunately, he's got some talent to help him in the arduous quest; backing Prusch as the Executive Chairman of the Board of Directors will be John Stanton, who's served as the interim CEO since Morrow's departure. Given the situation, it's a difficult position to be placed in -- either he'll be the hero that saves the company, or the villain responsible for taking it down. Check out the full press release after the break.Continue reading Clearwire: Erik Prusch to take over as CEO
Clearwire: Erik Prusch to take over as CEO originally appeared on Engadget on Wed, 10 Aug 2011 16:54:00 EST. Please see our terms for use of feeds.
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