Frontier Communications said it has named Vodafone UK CEO Nick Jeffery as its new CEO. Jeffery will replace Bernie Han, who will step down March 1.

Frontier filed for Chapter 11 protection in April  and has been winding through a restructuring process for months. Its reorganization plan was approved by the U.S. Bankruptcy Court in August and the company said that it has received regulatory approval in 12 states for its restructuring plan. It expects to emerge from Chapter 11 in early 2021.

After Jeffery takes the helm, Han, who joined Frontier in December 2019 from Dish Network, will step down, but will remain a member of the company’s board of directors and will assist in the CEO transition. Jeffery will join the board of directors after the company emerges from Chapter 11.  

“There is still important work to do in unlocking Frontier’s full potential, and I am excited to facilitate the transition and pass the CEO baton to someone with Nick’s outstanding track record,” Han said in a press release. “I want to again thank the entire Frontier team for their support as we see the chapter 11 process through to completion.”

Jeffery was selected after an extensive internal and external search for a new CEO. He has about 30 years of experience, most recently at Vodafone UK, where he helped engineer a turnaround at the British wireless and wireline operator. According to Frontier, during Jeffery’s tenure at Vodafone UK, the unit of Vodafone PLC grew revenue and market share, improved customer service, reduced churn and increased customer and employee satisfaction. Prior to his tenure at Vodafone UK, where he spent eight years, the last four as CEO, Jeffery spent more than a decade at Cable & Wireless, where he led the UK and international markets business units.

In a press release, Robert Schriesheim, chairman of the finance committee of Frontier’s board of directors, said that in addition to Jeffery becoming CEO, John Stratton will become Frontier’s executive chairman after it emerges from Chapter 11. 

“We are now at a point of natural evolution in our transformation and, following a rigorous process, the search committee concluded that Nick is the right CEO to lead Frontier through its next phase of investment and profitable growth,” Schriesheim said in the release. “On behalf of the Finance Committee and Board, I want to thank Bernie for his leadership in executing Frontier’s operational turnaround while managing the unprecedented challenges of the COVID-19 pandemic. Bernie has demonstrated his world-class skills as a CEO operator, managing large-scale complexity with a relentless focus on driving performance and emphasizing accountability. His contributions have helped to reposition Frontier as a stronger, more resilient business, and we appreciate his willingness to guide the CEO transition and remain on the Board through transition.”

Frontier said it is making progress in executing its reorganization plan, including recapitalizing the balance sheet, which upon emergence, will include reducing its debt by about $11 billion and its annual interest expense by about $1 billion. The company also plans to re-focus its efforts to become a fiber-based broadband service provider, and has had five straight quarters of consumer broadband subscriber growth.

“Frontier owns a unique set of assets and maintains a competitive market position,” Jeffery said in the release. “My immediate focus will be on serving our customers as we enhance the network through investments in our existing footprint and in adjacent markets while building operational excellence across the organization. I am committed to delivering world-class customer service. I look forward to speaking and meeting with our employees while working with Bernie, the Board and leadership team to ensure a seamless transition.”

Frontier Communications, on the verge of one of the biggest debt restructurings in recent telecom memory, said it has named former Dish executive Bernie Han as its new CEO, replacing Daniel McCarthy.

Frontier has been in talks with bondholders to restructure about $17.5 billion in debt since November. The telecom company has struggled as consumers have abandoned landlines for wireless, and bondholders have pressured Frontier management to come up with a plan, which some reports speculated could include a bankruptcy filing.

Han has more than 30 years experience in the telecom industry, serving more than 11 years in various roles at Dish, including chief financial officer, chief operating officer and EVP of strategic planning. In announcing the appointment, Frontier said Han had been retained as a strategic adviser to the company since Oct. 16, and has been actively supporting efforts to strengthen its financial position.

“Bernie is a proven industry leader who has a broad-based background with a long track record of developing organizational talent and enhancing financial and operational performance while driving and navigating strategic shifts in the industry,” Frontier chairman Pamela Reeve said in a press release. “In addition, he has a passion for serving customers with new and innovative solutions that meet their evolving needs with a focus on increasing value for all stakeholders. He brings a disciplined approach to operations management, having led turnaround initiatives at Dish Network that increased profitability, enhanced customer experiences and reduced churn rate. The Finance Committee and entire Board are confident that, as CEO, Bernie will further Frontier’s efforts to drive operational improvements in our business while continuing to evaluate the company’s capital structure.”

Reeve also thanked McCarthy for his nearly 30 years at the company, adding that as Frontier moves to improve its financial position, “now is the right time to transition leadership. We thank Dan for his nearly three decades of service to Frontier and tireless commitment to customers and employees and wish him the best in the future.”

McCarthy was named CEO of Frontier in 2015, after then-chairman and CEO Maggie Wilderotter passed the CEO baton in March of that year. Wilderotter stepped down as chairman of the company in April 2016, and was replaced by Reeve. 

In a press release, McCarthy said he is leaving Frontier in “great hands.”

“I remain a firm believer in Frontier’s future,” McCarthy continued. “I look forward to cheering the team on, and I want to thank everyone I have had the pleasure to work with and learn from during my time with Frontier.”

Frontier’s problems seemed to mount shortly after it spent about $10.5 billion on former Verizon Communications Fios wireline properties in California, Texas and Florida in 2015, which doubled the carrier’s size. But the transition was rife with problems, causing many customers to cancel service. According to Frontier’s financial statements, Frontier’s total video subscribers have declined from 1.526 million in Q3 2016 to 698,000 in Q3 2019.

In a press release, Han acknowledged that he takes the helm “at a time where we have both challenges to overcome and substantial opportunities ahead. I look forward to working with the Board of Directors and leadership team as we continue to execute on our initiatives to drive operational performance, invest in our business and become a stronger partner to our residential and enterprise customers.”