Media Industry
Industry: Email Alert RSS FeedMoney can't buy success: Paul Allen's billions aren't helping Charter.(MONEY TALKS)(Charter Communications Inc.)
Broadcasting & Cable, April, 2005 by Higgins, John M.
To get a clear idea of the condition of Charter Communications, you need only look at the $1.32 stock price. But the problems at mega-billionaire Paul Allen's company are bigger than just a depressed stock: No one is running the show.
Charter has sustained a nearly clean sweep of its executive suites. The company has no permanent CEO. CFO Derek Chang exited last Friday. (Even he was merely an interim CFO, replacing an executive who left in August.) The COO slot was filled just two weeks ago, after being open for six months. Other recent departures include the chief marketing and technology officers.
It could take months for a new set of executives to come together, get the lay of the land and significantly reverse Charter's loss of customers and...
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