Frontier Communications Appoints Margaret M. Smyth to Board of Directors

Rhea-AI Summary

Frontier Communications Parent, Inc. (NASDAQ: FYBR) has appointed Margaret M. "Peggy" Smyth to its Board of Directors, effective June 30, 2021. Smyth, with extensive finance experience, will chair the Audit Committee and serve on the Operations Committee. She previously held the position of Chief Financial Officer at National Grid USA until June 2021. John Stratton, Executive Chairman, emphasized Smyth's exceptional qualifications and anticipated contributions to Frontier's business transformation.

Positive

• Margaret M. Smyth appointed to Board of Directors brings strong finance expertise.
• Smyth's prior role as CFO positions her well to lead the Audit Committee.

Negative

• Concerns regarding continuity and experience gaps due to leadership transition.

Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier” or the “Company”) today announced that Margaret M. “Peggy” Smyth has been appointed to the Company’s Board of Directors, effective June 30, 2021. Ms. Smyth will serve as Chair of the Board’s Audit Committee and will also be a member of the Operations Committee.

Margaret M. "Peggy" Smyth (Photo: Business Wire)

Ms. Smyth most recently served as Chief Financial Officer of National Grid USA from October 2014 to June 2021, overseeing all finance, accounting, transactional, and property services.

John Stratton, Executive Chairman of the Board of Directors, said, “We are pleased to welcome Peggy Smyth to the Frontier Board of Directors. Peggy brings exceptional finance experience and is ideally suited to chair our Audit Committee, having served as CFO and in other senior leadership positions with several major companies. We look forward to Peggy’s contributions to Frontier as we continue to transform our business.”

Prior to National Grid, Ms. Smyth was Vice President of Finance for Consolidated Edison, Inc. Ms. Smyth earlier served as Vice President and Chief Financial Officer of Hamilton Sundstrand, which is part of the former United Technologies Corp., Vice President and Corporate Controller of United Technologies Corp., and Vice President and Chief Accounting Officer of 3M Corporation.

Ms. Smyth is currently a board member of two subsidiaries of Mutual of America and a board member and chair of the Audit Committee of Etsy, Inc.

She holds a Bachelor of Economics degree from Fordham University and a Master’s degree in accounting from New York University’s Stern School of Business.

About Frontier

Frontier Communications Parent, Inc. (NASDAQ: FYBR) offers a variety of services to residential and business customers over its fiber-optic and copper networks in 25 states, including high-speed internet, video, advanced voice, and Frontier Secure® digital protection solutions. Frontier Business™ offers communications solutions to small, medium, and enterprise businesses. More information is available at www.frontier.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210630005885/en/

FAQ

Who is Peggy Smyth and what is her role at Frontier Communications?

Peggy Smyth has been appointed to the Board of Directors and will chair the Audit Committee.

What experience does Peggy Smyth bring to Frontier Communications?

Smyth has extensive finance experience, having served as CFO of National Grid USA and held senior roles at other major companies.

When did Peggy Smyth join Frontier Communications?

Peggy Smyth was appointed to the Board of Directors effective June 30, 2021.

What impact does Peggy Smyth's appointment have on Frontier Communications?

Her expertise in finance is expected to enhance the Audit Committee's effectiveness and support Frontier's business transformation.