Frontier Communications CEO On Succession And Acquisitions

Frontier Communications Corp FTR recently announced that Daniel J. McCarthy will be replacing Mary Agnes Wilderotter as the company's CEO. In February, Frontier also entered a deal with Verizon Communications Inc. VZ to buy the latter's wireline business worth $10 billion.

Wilderotter was on Bloomberg Friday to discuss the company's succession plans and acquisition strategy.

The New CEO

“I have been the CEO at Frontier now for 10 and a half years now, and when you run a large company like this and transform a company, part of what your responsibility is as CEO is to make sure there's continuity in succession,” Wilderotter said.

“And I have been grooming someone for the last 10 and a half years, Dan McCarthy, and he is terrific. He is also 10 years younger than I am. So, he has the opportunity for a great run at the company as well.”

Related Link: Frontier Communications Corp To Participate In Investor Conference

Verizon's Assets Acquisition

On whether the $10 billion deal with Verizon is too big for the company to handle, Wilderotter replied, “Absolutely not. We have done a number of acquisitions since I have been at the company. The company was right around a little less than a billion when I joined, and with this deal, we will be at $12 billion. So, we have a great competency in our company on conversions and integration.

“We did a very large deal with Verizon about five years ago. We bought 14 states, which tripled the size of our company, and those were fixer-upper states. And in addition, we also bought the whole state of Connecticut from AT&T last year – closed on that and integrated it as well,” she concluded.