Alltel Reveals Post-merger Management Structure

by Lance Turner  on Friday, Nov. 2, 2007 7:36 am  

Alltel Corp. of Little Rock reveals what will be its new management structure after completes its plan to sell out and go private.

Alltel Corp. of Little Rock on Friday revealed what will be its new management structure after completes its plan to sell out and go private. That deal is set to close Nov. 16, Alltel said.

According to a filing with the U.S. Securities and Exchange Commission here, the telecommunication company's president CEO, Scott Ford, will remain with Alltel in his current role.

But its group president of operations, Kevin Beebe, will leave the company after the merger to work with Alltel on a consulting basis for two years. Alltel said Beebe will work with Alltel's new owners, Texas Pacific Group and Goldman Sachs Capital Partners, on "their current portfolios and new investment possibilities."

Jeff Fox, who is now group president of shared services, will become chief operating officer and take on Beebe's responsibilities.

Alltel's current board of directors will also step down after the merger is complete, with the following directors expected to named: Ford; James Coulter, Gene Frantz, Joseph Gleberman, John Marren, Leo Mullin and Peter Perrone. The company will also elect an additional independent director to the board.

The rest of Alltel's post-merger executive team: C.J. Duvall Jr., executive vice president of human resources; Sharilyn Gasaway, executive vice president and CFO; Richard Massey, chief strategy officer and general counsel; Sue Mosley, controller; and Holly Larkin, treasurer and secretary.

Alltel also said John Ebner and Kerry Brooks also will report to Ford. Ebner is now senior vice president of investor relations and treasurer. But post-merger, he will lead sponsor relations to coordinate activities with the private equity groups.

Brooks, now executive vice president of wireless wholesale operations, will take a new role leading the transformational steps Alltel's business will undertake in 2008 and thereafter, the company said.

"This structure will ensure that Alltel continues to build momentum in the marketplace as we enter a new phase in our history,"
Ford said in a news release. "As COO, [Fox] will maintain Alltel's tradition of operational excellence, which includes focusing on superior customer
service. This change also gives [Beebe] a tremendous opportunity to work with two of the leading private equity firms in the world while
continuing to assist the Alltel team."

Spectrum

Alltel is aiming to complete it change from a public to a private company, controlled by private equity firms Texas Pacific Group and Goldman Sachs Capital Partners, well before Dec. 2.

That is the deadline to apply to participate in the governor's 700 Mhz spectrum auction. The auction is set to begin Jan. 24, Alltel said. But a company that changes control after submitting an application cannot participate.

Participating in the auction was a major factor in deciding to sell out and go private, Alltel has said.

The auction of highly-coveted 700 MHz spectrum has been lauded by experts as a watershed moment in the telecommunication industry. Signals transmitted at 700 MHz radiate in a wide circle and can penetrate buildings, which means a network that operates on 700 MHz would require fewer cell towers and cost less to build.

Also, the robustness of 700 MHz spectrum opens the door for high-speed data, voice over Internet protocol (VoIP) and video applications. (Read more about the 700 MHz auction here).

 

 

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