Qwest Chief Financial Officer to Resign

DENVER (AP)--Qwest Communications International said Friday that Chief Financial Officer John W. Richardson is leaving the telecommunications company, saying his departure resulted from a mutual agreement.

Denver-based Qwest said the 63-year-old Richardson will remain until his replacement is found. Richardson had been the company's CFO since April 2007, when Richard Notebaert was the chief executive.

Edward Mueller took over from Notebaert as Qwest CEO in August.

Richardson replaced Oren G. Shaffer, the company's CFO since 2002. In June of that year, the company's then-CEO Joe Nacchio resigned amid a multibillion-dollar accounting scandal that forced Qwest to restate at least $2.2 billion in revenue. Nacchio's conviction on insider trading charges was set aside by a federal appeals court.

In a statement Friday, Qwest thanked Richardson for his work. Qwest spokesman Bob Toevs said Richardson's departure from the company was a mutual agreement.

Qwest is the primary telephone service provider in 14 mostly Western states.

(END) Dow Jones Newswires

Posted to the site on 5th April 2008

Email this article to a collegue

Printer Friendly Version