YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
McLeod is a communications services provider in the Midwest with a Springfield location, 333 Park Central East, offering local phone service.
The company’s CEO Chris Davis resigned from her position but will remain as chairman of the board of directors. Ken Burckhardt, executive vice president and chief financial officer, also resigned.
Joe Ceryanec, group vice president and treasurer, was appointed as acting CFO.
The resignations come in connection with a restructuring of the company, according to a news release. McLeod is having its lenders convert a substantial portion of the company’s debt to equity and become the company’s stockholders. The change is not expected to result in any recovery for current preferred or common stockholders.
McLeod also hired Stan Springel from Alvarez & Marsal as chief restructuring officer for management and consulting during the restructure process.
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Under construction beside the existing Republic branch of the Springfield-Greene County Library District – which remains in operation throughout the project – is a new building that will double the size of the original, according to library officials.