Business NEWS
FairPoint Communications and Eugene B. Johnson: Who will replace him?
By Amarendra Bhushan for CEOWORLD Magazine Updated:November 6, 2008
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!FairPoint Communications, Inc. reports that its Board of Directors has reaffirmed Eugene B. Johnson’s standing as its Chairman and Chief Executive Officer, per his employment agreement, which was extended in April 2008, and is set to expire on December 31, 2009.
In anticipation of Mr. Johnson’s employment agreement expiring at the end of 2009 and Mr. Johnson’s expressed desire to retire next year, FairPoint’s Board of Directors is taking the necessary steps for succession planning, including forming a search committee and engaging an outside executive search firm. Mr. Johnson has indicated his desire to retire after the company successfully completes the systems transition of its newly acquired northern New England business and once a successor is in place.
FairPoint recently closed on a $2.3 billion deal to acquire Verizon Communications’ landline business in much of New England.Johnson was a co-founder of FairPoint in 1991 and took over as CEO in 2002.
No deadline has been set for finding Mr. Johnson’s successor. Johnson has been CEO of FairPoint Communications since January 2002 and previously served
as chief development officer. Johnson is the co-founder of FairPoint Communications and also serves as chairman of the Board of Directors.
Eugene B. Johnson
Chairman and Chief Executive Officer
Gene Johnson co-founded the company and has been chief executive officer since January 2002, adding the chairman’s position in January 2003. Before that, Johnson led FairPoint’s corporate development efforts as executive vice president. A former captain in the U.S. Army, he started his career as a certified public accountant.
He owned a cable television construction company and later became head of the mergers & acquisitions group of Cable Investments, Inc. He also served as president and principal shareholder of JC&A, Inc., an investment banking and brokerage firm providing services to the cable TV, phone and related industries. Today he serves on the board of trustees for the University of North Carolina at Charlotte and is a regular supporter of local civic activities.
FairPoint Communications, Inc. is an industry leading provider of communications services to communities across the country. Today, FairPoint owns and operates local exchange companies in 18 states offering advanced communications with a personal touch, including local and long distance voice, data, Internet, television and broadband services. FairPoint is traded on the New York Stock Exchange under the symbol FRP. Learn more at www.fairpoint.com.
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