Frontier Communications Parent, Inc. announced the appointment of Woody Young to its Board of Directors, effective immediately.
Mr. Young is the former Chairman of Mergers and Acquisitions at Perella Weinberg Partners, where he also led the firm’s U.S. telecommunications and media advisory businesses. He previously served as the Co-Head of Global Telecommunications, Media, and Technology at Lazard.
“We are delighted to welcome Woody Young to Frontier,” said John G. Stratton, Executive Chairman of the Board of Frontier. “Woody brings decades of experience as an investment banker in the telecom industry, as well as deep operational and financial expertise. We look forward to benefitting from Woody’s insight as we build the leading provider of fiber internet access in America and drive shareholder value.”
Mr. Young added, “This is a compelling time to join the Frontier board. I look forward to working closely with Frontier’s directors and management to help execute its strategy, analyze capital allocation and value creation opportunities, and continue the Company’s strong progress.”
With Mr. Young’s appointment, the Frontier Board will expand to ten members, eight of whom are independent. The Board brings diverse and extensive experience across key disciplines, including technology, telecom, finance, operations, transactions, legal and regulatory, human capital, and shareholder value creation.
Mr. Stratton continued, “Since we began this turnaround in 2021, the team has successfully executed our fiber-first strategy. Over the last three years, we have doubled our fiber footprint, rapidly expanded our fiber customer base, achieved year-over-year EBITDA growth in 2023, and completed a landmark fiber securitization transaction.
As Frontier enters the next phase of its evolution, we believe that there are opportunities to create additional value for our shareholders. Accordingly, the Board and management team are executing a formal and comprehensive review process of all opportunities to unlock shareholder value, including continued optimization of our operational and financing strategy, strategic partnerships, joint ventures, divestitures, mergers, and business combinations.
Woody Young has had a 30+ year career in investment banking, with extensive experience in telecommunications M&A. He served as the Chairman of Mergers and Acquisitions at Perella Weinberg Partners, in addition to leading the firm’s U.S, telecommunications and media advisory businesses. Previously, he was the Co-Head of Global Telecommunications, Media, and Technology at Lazard. During his career, Mr. Young has advised companies on some of the most notable deals in the telecommunications sector, including AT&T’s acquisition of Time Warner and Sprint’s merger with Nextel Communications. He previously worked at Merrill Lynch, Lehman Brothers, First Boston, and Bain & Company. He also served as a White House Fellow and special assistant to the Deputy Secretary of the U.S. Treasury from 1991-1992. Mr. Young is a member of the Council on Foreign Relations. Most recently, Mr. Young served as President and a board member of Solidigm.
SOURCE: Businesswire