Clearwire CEO resigns

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High Five

Friday, March 11, 2011

Three top executives, including CEO Bill Morrow, have left Wireless broadband provider Clearwire Corp.

Board Chairman John Stanton, the former CEO of Western Wireless and VoiceStream Wireless, was named interim CEO.

Clearwire said it doesn't expect the departures to affect its effort to resolve a dispute with Sprint over the wholesale fees Sprint pays for Clearwire's 4G telecommunications service. Clearwire said it believes a settlement "is imminent."

Last month, the company reported that its fourth-quarter net loss widened by nearly one-third as its revenue doubled but its costs surged.

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