TPG Capital and GS Capital Partners expect to close on their acquisition of Alltel by Nov. 16, at which time the carrier will restructure its management team. Post-acquisition, Jeffrey Fox, Alltel's group president of shared services will become COO of the carrier. Fox will continue to report to Scott Ford, the CEO. Rick Massey will continue in his role as general counsel but add chief strategy officer to his duties. Kevin Beebe, group president of operations, will become a consultant to Alltel and TPG and GSCP to work with both firms on their current portfolios and new investment possibilities.
For the other half dozen executive role changes at Alltel:
- take a look at the press release [1]
Related Articles:
FCC approves $24.7 billion acquisition of Alltel Article [2]
PE firms snag Alltel Article [3]
April: AT&T-Alltel rumors gathering steam Article [4]
March: WSJ says Alltel looking for buyer Article [5]
Links:
[1] http://www.fiercewireless.com/press-releases/alltel-restructure-post-acquisition
[2] http://www.fiercewireless.com/story/fcc-approves-24-7b-acquisition-alltel/2007-10-29?utm_medium=rss&utm_source=rss
[3] http://www.fiercewireless.com/story/private-equity-firms-snag-alltel-for-27.5b/2007-05-21
[4] http://www.fiercewireless.com/story/att-alltel-rumors-gathering-steam/2007-04-25
[5] http://www.fiercewireless.com/story/wsj-alltel-looking-for-buyer/2007-03-05