Clearwire Announces New Executive Appointments to Support 4G Deployment Across the United States

Mon Aug 31, 2009 9:00am EDT

* Reuters is not responsible for the content in this press release.

Erik Prusch named Chief Financial Officer

Teresa Elder to join as new President of Strategic Partnerships and Wholesale
KIRKLAND, Wash.--(Business Wire)--
Clearwire Corporation (NASDAQ: CLWR), under its recently named Chief Executive
Officer, William T. (Bill) Morrow, today announced the appointment of two new
members of the company`s executive team to lead its expansion efforts and
execute on Clearwire`s plans to deploy its 4G WiMAX network across the United

Joining Clearwire will be Erik Prusch as Chief Financial Officer, and Teresa
Elder as President of Strategic Partnerships and Wholesale. 

"We are fortunate to have such accomplished executives join our leadership team.
Their successful track records at growing businesses by introducing innovative
consumer technologies will be an asset to our firm," said Morrow. "Erik and
Teresa each possess an impressive set of proven leadership skills that will
enhance our ability to execute on the company`s vision. I am confident that we
have assembled a team that will lead the company forward to best serve our
customers, partners and shareholders." 

New Clearwire Executives

Erik E. Prusch joins Clearwire today as Chief Financial Officer, responsible for
the company`s accounting, finance, tax, reporting and investor relations
functions. Throughout his career he has successfully enabled businesses through
periods of rapid growth, operational scaling, and expansion financing. Prusch
was most recently President and Chief Executive Officer of Borland Software,
where he also previously served as Chief Financial Officer, leading the
restructuring of the company and returning the business to profitability. Prior
to Borland, he was Vice President of Finance in Intuit`s Turbo Tax division.
Prior to Intuit, he served as Chief Financial Officer of Identix Incorporated.
Before this, Prusch served as Vice President and Chief Financial officer,
Finance and Operations at Gateway Computers, Incorporated. He began his career
at Touche Ross and PepsiCo. Prusch holds a B.A. from Yale University, and earned
an M.B.A. from the Stern School of Business at New York University. Prusch will
report to Morrow. 

Teresa L. Elder assumes the newly created position of President of Strategic
Partnerships and Wholesale where she will oversee Clearwire`s wholesale
operations, which includes the services sold by the company`s strategic
investors using Clearwire`s 4G WiMAX network. Most recently, Elder was CEO of
Vodafone, Ireland - a wholly owned subsidiary of Vodafone Group, PLC. During her
time at Vodafone, the Ireland subsidiary was the local market leader with 2.2
million customers, more than $2 billion in revenue, more than 2,000 employees,
and had among the highest data usage rates and ARPUs in the world. Before
joining Vodafone, Elder served as President, West of AT&T Broadband (now part of
Comcast). In this role, she was responsible for seven million customers, more
than $4 billion in annual revenues, and led a team of 15,000 employees. Prior to
this Elder was Senior Vice President, West at MediaOne Group; and Vice
President, Operations - National Markets at MediaOne. Elder holds a B.S. in
Business Administration from Creighton University, and a M.S. in Management from
Stanford University. She will report to Mike Sievert, Chief Commercial Officer,
and serve as a member of Morrow`s executive committee. 

In addition to these new executive team members, the company announced that
Scott Richardson, who has served as Clearwire`s Chief Strategy Officer, will
leave the company, but continue to serve as a strategic advisor. "We are pleased
that Scott will continue to offer his 4G WiMAX expertise and guidance in an
advisory capacity for the foreseeable future," said Morrow. Morrow will oversee
strategy for the company, and Sievert will oversee product development. 

Also, as a part of today`s appointments, the company announced that David Sach,
Chief Financial Officer, will leave the company to pursue new opportunities. "We
would like to thank David for his contributions to the company, and wish him all
the best," said Morrow. 

Other Executive Leadership Team Members

The rest of Clearwire`s senior leadership team remains unchanged and includes
the following executives reporting to Morrow: Mike Sievert remains Chief
Commercial Officer; John Saw remains Chief Technology Officer; R. Gerard Salemme
remains Executive Vice President - Strategy, Policy and External Affairs; Broady
R. Hodder remains General Counsel; Kevin T. Hart remains Chief Information
Officer; Scott Hopper remains Senior Vice President of Corporate Development;
Laurent J. Bentitou remains Chief People Officer; and Barry West remains
President, International. 

About Clearwire

Clearwire Communications, LLC, an operating subsidiary of Clearwire Corporation
(NASDAQ: CLWR), offers a robust suite of advanced high-speed Internet services
to consumers and businesses. As part of a multi-year network build-out plan,
Clearwire`s 4G service, called CLEAR, will be available in major metropolitan
areas across the U.S., and bring together an unprecedented combination of speed
and mobility. Clearwire`s open all-IP network, combined with significant
spectrum holdings, provides unmatched network capacity to deliver next
generation broadband access. Strategic investors include Intel, Comcast, Sprint,
Google, Time Warner Cable, and Bright House Networks. Clearwire currently
provides 4G service, utilizing WiMAX technology, in four markets and provides
pre-WiMAX communications services in 50 markets across the U.S. and Europe.
Headquartered in Kirkland, Wash., additional information about Clearwire is
available at 

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
the securities laws. The words "will," "would," "may," "should," "estimate,"
"project," "forecast," "intend," "expect," "believe," "target," "designed" and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements may include, without limitation, Clearwire`s
expectations regarding: future financial and operating performance and financial
condition; network deployment and market launch plans; other plans, objectives
and strategies; product development; and industry conditions. Forward-looking
statements are projections reflecting management's judgment and assumptions
based on currently available information and involve a number of risks and
uncertainties that could cause actual results to differ materially from those
suggested by the forward-looking statements. 

Future performance cannot be assured. Actual results may differ materially from
those in the forward-looking statements due to a variety of factors, including,
but not limited to the risks referenced in the Form 10-Q for the quarter ended
June 30, 2009, in Part II, Item 1A, "Risk Factors." 

Clearwire believes the forward-looking statements in this release are
reasonable; however, you should not place undue reliance on forward-looking
statements, which are based on current expectations and speak only as of the
date of this release. Clearwire is not obligated to publicly release any
revisions to forward-looking statements to reflect events after the date of this

Media/Industry Analyst Contacts:
Clearwire Communications, LLC
Susan Johnston, 425-216-7913
JLM Partners for Clearwire
Mike DiGioia, 206-381-3600
Investor Relations:
Clearwire Communications, LLC
Mary Ekman, 425-216-7995

Copyright Business Wire 2009


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