XO Communications’ board of directors has tapped its chief financial officer, Laura W. Thomas, to take the reins as the broadband provider’s interim CEO.
While steering the company’s strategic focus as CEO of the Herndon, Va.-based CLEC, Thomas will also continue her duties as chief financial officer, a position she has held since 2009. Thomas first joined XO in 2000 as vice president of finance.
Thomas replaces former CEO Carl Grivner, who resigned to pursue other opportunities in April, after serving eight years at XO’s helm.
Thomas, along with Daniel Wagner, director of business services, and Ernest Ortega, director of carrier services, had been appointed in April to the executive committee charged with managing company operations in the absence of a permanent CEO.
"It is an honor to be selected for this role and to lead XO's dedicated team of employees. XO is a leader in IP-based communications services, and we will continue to leverage our expertise to deliver the advanced services our customers require," said Thomas in a press release.
Carl Icahn, billionaire investor and XO’s chairman of the board, said in the release: "I have great confidence in Laura's ability to position XO for success in the communications marketplace by delivering innovative IP and data solutions across XO's extensive nationwide network," Icahn said.
XO Holdings became a private company in August, when the service provider merged with affiliates of Icahn, in an agreement which called for shareholders to receive $1.40 in cash without interest along with a pro rata share of certain proceeds should XO be sold within one year of the deal. Icahn already owned 92 percent of the combined voting power of XO’s outstanding shares of capital stock prior to the August merger.
