Business News - Clearwire: Erik Prusch to Take Over as CEO

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Clearwire: Erik Prusch to Take Over as CEO

Monday, 15 August 2011

It’s practically normal to see large multinational organizations changing leadership, as the change allows the company to gain better capabilities to face various economic challenges. And with it comes to Clearwire, the company is somewhat accustomed into changing their CEO, and it’s been precisely 5 months, since the last time Clearwire had a permanent CEO at the helm.

Generally, Clearwire has already made plans to promote Erik Prusch, the company's Chief Operating Officer, to take the place of Bill Morrow. Apparently, Erik Prusch will inherit an uphill task as the company’s CEO, whereby he will be required to secure a whopping $600 million in capital that would be used to fund Clearwire's buildout of LTE. And if Erik Prusch fails to find the cash, the company will run out of cash by the end of 2012. Luckily, Erik Prusch isn’t alone, whereby John Stanton, the Executive Chairman of the Board of Directors, has been backing him up in the effort.