Charlotte-based FairPoint planning CEO succession
In a statement issued early Thursday morning, FairPoint said no deadline had been set to replace Johnson.
"FairPoint Communications, Inc. today reports that its board of directors has reaffirmed Eugene B. Johnson's standing as its chairman and chief executive officer, per his employment agreement, which was extended in April 2008, and is set to expire on Dec. 31, 2009," the company said.
"In anticipation of Mr. Johnson's employment agreement expiring at the end of 2009 and Mr. Johnson's expressed desire to retire next year, FairPoint's board of directors is taking the necessary steps for succession planning, including forming a search committee and engaging an outside executive search firm. Mr. Johnson has indicated his desire to retire after the company successfully completes the systems transition of its newly acquired northern New England business and once a successor is in place.
"No deadline has been set for finding Mr. Johnson's successor."
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