Windstream Announces Board Leadership Changes
LITTLE ROCK, Ark., March 11, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) today announced that it has made changes to certain board leadership positions.
The board of directors announced the appointment of Jeffrey T. Hinson as chairman of the board, effective May 1, 2013. Hinson qualifies as an independent director, and this appointment will continue Windstream's practice of separating the positions of CEO and Chairman.
Hinson succeeds Dennis E. Foster, who has served as chairman since 2010. Foster will continue as a member of the board and to serve on the board's compensation committee.
Also on May 1, Francis X. "Skip" Frantz will become chairman of the audit committee, a position Hinson has held since 2010. Frantz qualifies as an independent director and as an audit committee financial expert. Effective with this appointment, Hinson will no longer serve on the audit committee.
These moves are in keeping with the board's practice of reviewing the chairman and committee chairman positions for rotation after a three-year term. The board believes it benefits from the introduction of new perspectives to these leadership positions.
"Dennis Foster has been a great source of support and counsel for me over the past three years," said Jeff Gardner, Windstream president and CEO. "Our board and shareholders have benefited tremendously from Dennis' leadership as chairman, and we are delighted that he will continue as a Windstream director.
"Jeff Hinson has served as a director of Windstream since it was formed in 2006, and he has deep knowledge of the company and our industry," Gardner said. "In addition, his service on the boards of other public companies in diverse industries gives him unique insight into matters of corporate governance and allows him to offer a broad perspective on the challenges and opportunities facing Windstream.
"Skip Frantz has long been a valuable advisor to me and the management team. He is uniquely qualified to chair our audit committee," said Gardner.
No other changes have been made to the board's leadership or the composition of the committees of the board. Carol B. Armitage will continue to chair the governance committee, and Samuel E. "Sandy" Beall III will continue to chair the compensation committee.
Windstream Corp. (Nasdaq:WIN) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index. For more information, visit www.windstream.com.
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