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Frontier Communications Parent, Inc. (NASDAQ:FYBR), a telecommunications company with a market capitalization of $8.95 billion and annual revenue of $5.94 billion, has announced the resignation of John Harrobin, the Executive Vice President, Consumer, effective today. Harrobin’s departure was made public through a regulatory filing with the Securities and Exchange Commission on March 14, 2025.
Harrobin informed the telecommunications company of his intention to resign on March 10, 2025, and his resignation became effective on March 14, 2025. Frontier Communications has expressed gratitude to Mr. Harrobin for his service and has extended best wishes for his future endeavors.
The company, headquartered in Dallas, Texas, operates in the telephone communications industry, excluding radio telephone. According to InvestingPro analysis, Frontier has generated $2.13 billion in EBITDA over the last twelve months, though it operates with a significant debt burden. The company has undergone several name changes from Citizens Utilities Co to Citizens Communications Co, and then to Frontier Communications Corp (OTC:FTRCQ) before its current title.
The reason behind Harrobin’s departure has not been disclosed in the filing, and as of now, the company has not announced a successor for the EVP, Consumer position. The announcement comes amid the regular corporate reshuffling that occurs in the dynamic telecommunications sector.
This news could be of interest to investors and industry observers as executive changes can signal shifts in company strategy or operations. While the stock has shown impressive performance with a 52.32% return over the past year, InvestingPro data indicates potential challenges ahead, with analysts revising earnings downward for the upcoming period. Get access to 8 more exclusive ProTips and comprehensive analysis through InvestingPro’s detailed research reports.
Frontier Communications continues to operate under the leadership of its current executive team and will comply with all regulatory requirements associated with this transition. The company’s next earnings report is scheduled for May 2, 2025, which will provide more clarity on its financial position. The information regarding Harrobin’s resignation is based on the statements made in the SEC filing by Frontier Communications.
In other recent news, Frontier Communications has reported several notable developments. The company announced an amendment to its senior secured term loan credit facility, reducing interest rates significantly, which is expected to lower the cost of its existing debt. This financial maneuver is part of Frontier’s strategy to optimize its capital structure. Meanwhile, Frontier has also accelerated the vesting and payment of certain executive compensations, as disclosed in a recent SEC filing. This move aims to preserve tax deductions and reduce potential excise taxes in anticipation of the company’s merger with Verizon Communications (NYSE:VZ), which will make Frontier a wholly owned subsidiary.
Additionally, Benchmark analysts reiterated a Hold rating on Frontier Communications, citing the company’s recent fiber results and the expected acquisition by Verizon. In contrast, Raymond (NSE:RYMD) James downgraded Frontier’s stock to Underperform, noting limited upside potential despite the pending acquisition at $38.50 per share. Analyst Frank Louthan IV from Raymond James emphasized that the downgrade reflects the current risk/reward balance rather than concerns about the deal’s completion. These developments come as Frontier’s strategic moves and financial results continue to be closely monitored by investors.
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