Frontier Communications Names Scott Beasley Chief Financial Officer

Rhea-AI Summary

Frontier Communications Parent (NASDAQ: FYBR) has appointed Scott Beasley as the new Chief Financial Officer, effective June 14, 2021. Beasley, previously CFO at Arcosa, Inc., replaces Sheldon Bruha, who will transition out after a significant tenure. Beasley’s expertise in corporate finance is expected to bolster Frontier's commitment to modernizing its operations and expanding its high-speed fiber network. His background includes a successful public spinoff and overseeing multiple acquisitions. The leadership change comes as Frontier aims to strengthen its balance sheet and invest in growth.

Positive

• Appointment of Scott Beasley as CFO to enhance corporate finance capabilities.
• Beasley's experience in leading public spinoffs and acquisitions supports growth strategy.
• Transition occurs during a period of financial restructuring and modernization.

Negative

• None.

Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier” or the “Company”) today announced that Scott Beasley will join the Company as Chief Financial Officer on June 14, 2021. Mr. Beasley was most recently Chief Financial Officer of Arcosa, Inc., a North American provider of infrastructure products and solutions. He will report to Nick Jeffery, Frontier’s President and Chief Executive Officer.

Scott Beasley (Photo: Business Wire)

Mr. Beasley succeeds Sheldon Bruha, who will be departing from his position effective as of June 14, 2021, to pursue other opportunities. Mr. Bruha will remain with Frontier through a transition period.

“The addition of Scott Beasley as our new CFO is an important step in building a world-class leadership team as we transform our business into a modern technology company,” said Mr. Jeffery. “Frontier has a newly strengthened balance sheet and Scott brings considerable experience in corporate finance that will be critical as we invest in building our high-speed Fiber network. Scott is the ideal executive to lead our finance organization as we build Gigabit America.

“We thank Sheldon Bruha for his significant contributions over the past three years,” Mr. Jeffery added, “Sheldon played a key role in Frontier’s successful emergence from bankruptcy, including leading the Company’s critical balance sheet restructuring. We wish him well in his future endeavors.”

Scott Beasley Bio

Scott Beasley was most recently Chief Financial Officer of Arcosa, Inc., a North American provider of infrastructure products and solutions, and helped lead its successful public spinoff in 2018. Under his financial leadership, Arcosa debuted on public equity and debt markets, developed a new shareholder base, implemented a disciplined capital allocation program, and published its inaugural ESG Sustainability Report. Arcosa executed 13 acquisitions in a 3-year period to reposition its portfolio around growth-oriented infrastructure products. From 2017 until Arcosa’s spin-off, Mr. Beasley was Group Chief Financial Officer of Trinity Industries, having served as Trinity’s Vice President of Corporate Strategic Planning since 2014. Prior to joining Trinity, Mr. Beasley was an Associate Partner at McKinsey & Company, where he led operational and organizational transformations across asset-intensive industries and started his career as an Operations Manager at McMaster Carr Supply Company. Mr. Beasley received an AB in Economics from Duke University and an MBA in Finance and Accounting from Northwestern University’s Kellogg School of Management.

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/20210602005299/en/

FAQ

Who is the new CFO of Frontier Communications FYBR?

Scott Beasley is the new CFO of Frontier Communications, effective June 14, 2021.

What experience does Scott Beasley bring to FYBR?

Scott Beasley was previously CFO of Arcosa, Inc., and has extensive experience in corporate finance and managing public companies.

What is the significance of Scott Beasley's appointment for FYBR?

Beasley's appointment is seen as a crucial step in enhancing Frontier's financial leadership during its transformation into a technology-focused company.

Who did Scott Beasley succeed as CFO at FYBR?

Scott Beasley succeeded Sheldon Bruha, who is leaving to pursue other opportunities.