RCN said Thursday that executive chairman James F. Mooney decided to retire from its board of directors. The cable TV overbuilder said that Michael Katzenstein, an independent member of the board, was named non-executive chairman of the board.
The company also said that its board of directors renewed the contract of president and CEO Peter Aquino. RCN said it signed Aquino to a three-year deal.
“With the completion of RCN’s financial turnaround, and the demonstrated effectiveness of Pete Aquino and the rest of the RCN management team, the time is right for me to step away from RCN to focus on my other business endeavors,” Mooney said in a prepared statement. “I am very proud that I leave RCN as a far stronger business than when I arrived, and I have the greatest confidence that the management team will continue to deliver growth and value to shareholders under Pete Aquino’s leadership.”
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