Frontier Communications Sets New Course as Telecommunications Technology Company
Frontier’s appearance in Chapter 11 follows the adoption of all necessary state and political sanctions, as well as the previous confirmation of the Company’s Plan of Reorganization by the U.S. Bankruptcy Court of New York State.
As previously announced, Frontier’s general stock is expected to start trading in the NASDAQ stock exchange under the FYBR tick mark on the market that opened on May 4, 2021.
“Today Frontier is taking a critical step in the transformation of its multi-year plans, emerging as a powerful company ready to lead in its drive to build Gigabit America,” said Nick Jeffery, President and CEO. “With a healthy environment, we now have the necessary foundations to revitalize Frontier by accelerating investment in our fiber development and bringing new solutions to our customers. Together, our team will accelerate our momentum and unlock the full potential of Frontier. I am excited to have the opportunity to lead the Company as we enter this new chapter. ”
Mr. Jeffery continued, “I would like to extend our gratitude to our customers, vendors and business partners for their support during the reconstruction. Many thanks to our entire Frontier team for their hard work and constant dedication to keeping our customers connected. Frontier moves forward with resilience, and total commitment to supporting the success of our stakeholders and bringing a positive experience to our customers. ”
John Stratton, Executive Chairman of the Board of Directors, said, “Frontier has made significant progress in its transformation and has strong market forces. Frontier now has a strong investment balance and thrives on any cycle. The new Board and I look forward to working with Nick, who has a proven track record in our industry, and has started well at Frontier. Together, we will seize significant opportunities in Frontier and drive sustainable, profitable growth, and an increased number of shareholders. I would also like to express my gratitude to the Retired Board for the work it has done for Frontier and all its stakeholders.
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