Alaska Communications (NASDAQ: ALSK), the state’s leading broadband and
managed IT services provider, today announced CEO Anand Vadapalli will
depart the company on June 30, 2019. Effective July 1, 2019, COO William
H. Bishop will serve as interim CEO while the board conducts a candidate
search for a permanent CEO. Mr. Vadapalli will serve as an advisor for
board and management during this transition period through the end of
2019.
Board Chair David W. Karp stated, “We thank Anand for his nearly
thirteen years of dedicated service, during which he led the company as
CEO for the last eight and half years. Under Anand’s leadership, Alaska
Communications set the pace for our industry in terms of proactively
taking steps to restructure the company, de-levering the balance sheet,
investing in the network and developing new customer relationships to
drive sector leading top line performance.
“As reported in its Q1 2019 results, the company is tracking to its
growth and other revenues to be at nearly 70 percent of total revenues,
positioning the company very well for EBITDA and FCF expansion.
“Our experienced team will drive ahead and uphold Alaska Communications’
pillars of strength: strong customer relationships, excellent customer
service, and superior networks. With opportunities in 5G wireless
backhaul, education, carrier and federal as well as oil and gas, our
Enterprise & Carrier business will continue to drive performance.
“The Board will be active in its oversight during this transition period
and fully expects the company to deliver long-term shareholder value.”
About Alaska Communications
Alaska Communications (NASDAQ: ALSK) is the leading provider of advanced
broadband and managed IT services for businesses and consumers in
Alaska. The company operates a highly reliable, advanced statewide data
network with the latest technology and the most diverse undersea fiber
optic system connecting Alaska to the contiguous U.S. For more
information, visit www.alaskacommunications.com
or www.alsk.com.
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