Alltel Shuffles Execs as Valor Merger Continues

by Arkansas Business staff  on Wednesday, Dec. 14, 2005 11:47 am  

Alltel Corp. of Little Rock on Wednesday named Richard N. Massey as its new executive vice president, corporate secretary and general counsel.

Massey will succeed Francis X. "Skip" Frantz, who is joining the new publicly traded wireline company the telecom is forming in central Arkansas.

Frantz will be chairman of the board of directors of the new wireline company, which Alltel is creating in a reverse Morris trust merger with Valor Communications Group Inc. of Irving, Texas. Alltel announced the deal Friday.

Alltel said Frantz will continue in his Alltel duties to complete regulatory and financial filings for 2005, after which Massey will take over.

Other Alltel executives will do the same. Sharilyn Gasaway, Alltel's controller, will assume her previously announced duties as Alltel's chief financial officer after current CFO Jeff Gardner completes the company's 2005 financial filings. Gardner has been tapped to become president and CEO of the new wireline company.

Massey has most recently worked as a managing director at Stephens Inc. of Little Rock since 2000. He was head of the information and communications practice for the firm and has played key roles in Alltel's mergers with Western Wireless Corp. and Midwest Wireless, as well as the spinoff of Alltel's wireline business and its merger with Valor.

Massey previously worked as a partner with the Kutak Rock and Rose Law Firms in Little Rock.

Alltel has more than 15 million customers in 36 states and about $10 billion in annual revenue.



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