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Clearwire: Erik Prusch to take over as CEO
Precisely five months since the last time Clearwire had a permanent CEO in place, a new boss has been selected to take the place of Bill Morrow. Being promoted to the position is Erik Prusch, the company's Chief Operating Officer, who will be faced with a monstrous challenge: secure roughly $600 million in capital to fund Clearwire's buildout of LTE. If none can be found, the company will be completely out of cash by the end of 2012. Fortunately, he's got some talent to help him in the arduous quest; backing Prusch as the Executive Chairman of the Board of Directors will be John Stanton, who's served as the interim CEO since Morrow's departure. Given the situation, it's a difficult position to be placed in -- either he'll be the hero that saves the company, or the villain responsible for taking it down. Check out the full press release after the break.
Telus cuts employees, boosts spending on 3G network
In what has become an all-too-common theme across the telecom and wireless industries -- and just about every industry, for that matter -- Telus cut 1,160 employees from its payroll in the first quarter, a move that it says cost it roughly $28 million in restructuring fees. If it's any consolation, though, the reduction's being offset by capital investment in excess of CAD $2 billion this year to ramp up its 3G infrastructure buildout that'll ultimately see Rogers-fighting HSPA spectrum go live as an interim step on the way to LTE. With $700 million getting spent in Alberta, $500 million in British Columbia, and $300 million in Ontario, that work will undoubtedly create some jobs, so there's your silver lining right there. [Via MobileSyrup]
