Local Tech Wire

CHARLOTTE, N.C. – Bankrupt wants to replace its chairman and chief executive officer.

Late Monday, Fairpoint said it has asked U.S. Bankruptcy Court for approval to replace David Hauser as its CEO with Paul Sunu. Sunu formerly worked with Madison FRiver Communications in Mebane, N.C.

Fairpoint also wants to replace Hauser as chair of the board with J. Bonnie Newman, the board’s lead director since 2007. Newman lives in New Hampshire, where FairPoint provides local telecom and data services.

Hauser would continue to work with FairPoint as a consultant, the company said.

Sunu would take over as CEO and Hauser would resign once court approval is received, FairPoint said.

"As we begin to plan for emergence from Chapter 11, Paul’s extensive telecommunications experience will be a great benefit to FairPoint,” Newman said in a statement.

“David has done an excellent job over the past year guiding the Company through the restructuring process,” he added. “Now Paul’s telecommunications skill set will drive excellence in performance and profitability as we emerge from Chapter 11.”

FairPoint has struggled financially since taking over Verizon’s local phone operations in much of New England.

Sunu was most recently CFO at Hargray Communications Group. He also was CFO at Madison River from 1996 to 2007.

Hauser took over as chairman and CEO at FairPoint in June 2009. He was no stranger to the company, having served on its board since 2005.

FairPoint offers local telephone and related services in numerous markets spread across 18 states.

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