Charter Communications said Tuesday that its executive vice president and chief financial officer Jeffrey T. (J.T.) Fisher has resigned, effective April 4, and will be replaced in the interim by senior vice president of strategic planning Eloise Schmitz.
Fisher joined Charter in 2006 from Delta Airlines. Schmitz has been with Charter since 1998 in a variety of finance roles. She will assume the interim CFO duties in addition to her regular role as SVP of Strategic Planning.
Charter gave no reason for Fisher’s decision to resign.
“Charter has made great progress over the past two years,” Fisher said in a statement. “I am pleased to have played a role in that effort and am confident I’m leaving the company well positioned for continued growth.”
In a statement, CEO Neil Smit thanked Fisher for his service: “JT has made numerous contributions to Charter and we appreciate his service. He’s developed an outstanding team and I am confident they will ensure a smooth transition period.”
In a separate statement, Charter said its subsidiary Charter Communications Operating LLC plans to sell $500 million in second lien notes due 2014 to help pay down some of its debt. The company also said that the unit will borrow up to $275 million in incremental term loans under its credit facilities to reduce borrowings, but not commitments, under the revolving portion of its credit lines and for general corporate purposes.
