CenturyLink, which in October 2016 entered into an agreement to acquire Level 3 Communications for approximately $34 billion, has announced that upon closing of the CenturyLink-Level 3 transaction Jeff Storey, currently president and CEO of Level 3, will become CenturyLink president and chief operating officer.
The company noted that, as previously announced, after the closing of the transaction Glen F. Post III will continue as CEO of CenturyLink. It is expected that Mr. Storey will succeed Glen Post as CEO of CenturyLink effective January 1, 2019, at which time Mr. Post will then become executive chairman of the company's board.
In addition to the appointment of Jeff Storey as COO, Glen Post's direct reports after the closing of the Level 3 acquisition will be as follows: Stacey Goff, EVP, general counsel and chief administrative officer; Sunit Patel, EVP and CFO; and Scott Trezise, EVP, human resources.
CenturyLink also announced that Harvey P. Perry, formerly vice chairman of the board of CenturyLink, has been appointed board chairman, effective immediately, replacing William A. Owens, who retired from the board as of May 24th. In addition, W. Bruce Hanks, a member of the CenturyLink board, has been named vice chairman, also effective immediately. Mr. Storey is one of four Level 3 board members who will join the CenturyLink board at closing of the transaction.
- In early May CenturyLink named the senior leadership team following the acquisition of Level 3, which includes: Clay Bailey as SVP, transformation; Aamir Hussain as EVP, CTO and network operations; Dean Douglas as EVP, North America enterprise; Maxine Moreau as EVP, consumer; Girish Varma as EVP, IT and managed services; Laurinda Pang as EVP, global accounts management and international; and Gary Gauba as SVP and chief relationship officer.
- The two companies stated that they continue to expect the transaction to close by September 30th this year.
