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Summit Hires CFO Bob Gunderman, Formerly of Windstream

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Summit Utilities Inc. of Colorado, which serves most natural gas customers in Arkansas, has hired Bob Gunderman as its chief financial officer.

Gunderman, a former CFO at Windstream Holdings, will continue to be based in Little Rock.

A certified public accountant, Gunderman spent 14 years at Windstream, and before that was vice president of internal audit at Alltel, a forerunner to Windstream.

“Summit is a forward-looking, customer-focused company that has experienced tremendous growth over the past few years,” Gunderman said in a news release. “I’m excited to join the team and bring my financial expertise as we continue to grow and meet the needs of the communities we serve.”

Kurt Adams, Summit’s president and CEO, said Gunderman’s “experience and background will contribute to the company’s long-term growth and success.”

Summit was in the news earlier this year after experiencing problems migrating some customers’ accounts after acquiring the infrastructure and customers of CenterPoint Energy in a $2.3 billion deal that closed in January 2022.

Those problems, which included complaints of overbilling and improper crediting of payments by customers, led to inquiries by Arkansas Attorney General Tim Griffin and the Arkansas Public Service Commission.

Over about 30 years in accounting, Gunderman led acquisition structuring, diligence, integrations and “synergy realization” for transactions totaling more than $30 billion and financing transactions totaling more than $25 billion, according to the news release.

Gunderman holds a degree in accounting from the University of Arkansas and serves on the board of directors of The Arkansas Game and Fish Foundation.

He will be responsible for overseeing Summit’s accounting, financial planning, taxation, audit, investor relations, treasuring, insurance, and gas supply and control teams.

Summit serves about 425,000 accounts in Arkansas.

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