Leap Loses CFO - Investigates MetroPCS Takeover Offer

The USA based, Leap Wireless has announced that its Board of Directors will review the unsolicited proposal received on September 4 from MetroPCS Communications to acquire all of Leap. Leap's Board of Directors will make a determination regarding the proposal following completion of its review.

Separately, Leap announced that CFO, Amin Khalifa, has resigned from the company to pursue other interests. Leap CEO and President, Doug Hutcheson, will assume the additional duties of interim CFO, pending the naming of a successor to Mr. Khalifa. Hutcheson held the post of CFO at Leap from August 2002 to February 2005 when he was named CEO.

"I want to thank Amin for his contributions," Hutcheson said. "We believe the company has made good progress in the last year and is positioned for continued success. I wish Amin continued success in his future endeavors."

Posted to the site on 7th September 2007