- Push-out Score determined
- After about two years in the position
- Thanks for O’Brien
- Rob Schwartz taking over
- O’Brien will remain as Executive Chairman at Anterix
- O’Brien made a lengthy statement and said 212 words
(exechange) — Woodland Park, New Jersey, June 25, 2020 — Morgan O’Brien, chief executive of Anterix, leaves his position. As announced by Anterix Inc. in a news release and in a regulatory filing published on Thursday, June 25, 2020, Morgan E. O’Brien leaves his post as chief executive officer at the wireless-communications company after about two years in the role, effective July 1, 2020.
Morgan O’Brien’s duties as CEO will be taken over by Robert H. (Rob) Schwartz, currently President of Anterix Inc.
It is a generational change as well. Rob Schwartz is about 21 years younger than Morgan O’Brien.
“The evolution of Rob Schwartz into the CEO role has long been a personal goal of mine”
Morgan O’Brien’s departure from the CEO post is explained as follows. Morgan O’Brien said: “With the achievement of our recent FCC Report & Order, we are empowering our next generation to lead Anterix into its future. The evolution of Rob Schwartz into the CEO role has long been a personal goal of mine; and our Board agrees that these new roles for Rob and me will best serve our employees, customers and shareholders.”
O’Brien will remain as Executive Chairman at Anterix
“Anterix (NASDAQ: ATEX) today announced its executive leadership succession plan, with the Board of Directors unanimously appointing Anterix’s President Rob Schwartz to succeed Morgan O’Brien as Chief Executive Officer and O’Brien to succeed Brian McAuley as Executive Chairman. The succession will be effective July 1, 2020,” Anterix said.
“Resignation”
Anterix said: “On June 25, 2020, Anterix Inc. (the “Company”) issued a press release announcing an executive leadership succession plan (the “Succession Plan”), which follows a shift in the Company’s business priorities as a result of the FCC’s issuance of a Report and Order in May 2020 to modernize and realign the 900 MHz band to increase its usability and capacity by allowing it to be utilized for the deployment of broadband networks, technologies and solutions.”
Anterix further said: “Additionally, as part of the Succession Plan, the Board appointed Morgan E. O’Brien as the Executive Chairman of the Board and accepted Mr. O’Brien’s resignation as the Company’s Chief Executive Officer, each effective as of the Effective Date.”
Share price increase since April 2018
The announcement follows an increase in Anterix Inc.’s share price of 66% since April 2018.
In the position of CEO since 2018
Morgan O’Brien became CEO of the Company in 2018.
O’Brien has served as the Company’s Chief Executive Officer since April 2018.
He has also served as a member of the Company’s Board since April 2012, and as Vice Chairman from May 2014 to April 2018.
In April 2018, O’Brien transitioned to serving as the Company’s Chief Executive Officer.
From January 2009 to present, O’Brien has served as an independent consultant to several wireless start-ups and until June 2017 served as a member of the board of directors of GTT Communications, Inc. (NYSE: GTT).
As a co-founder and chairman of Nextel, O’Brien led the creation of the first all-digital nationwide wireless network (the Nextel National Network) and brought push-to-talk (“PTT”) communication to the mass business and consumer market.
After the merger of Nextel with Sprint Corporation in 2004, he was a co-founder of Cyren Call Communications Corporation, where he served until January 2009.
O’Brien was recognized in 1987 as New Jersey Entrepreneur of the Year and was voted the RCR Person of the Year in 1993 and again in 2006.
In 2005, he was inducted into the Washington, DC Business Hall of Fame, and in 2007 he was named a Fellow of the Radio Club of America and was named by Fierce Wireless as “one of the top U.S. wireless innovators of all time.”
In 2016, O’Brien was awarded the Armstrong Medal, the highest award of the Radio Club of America, for demonstrated excellence and lasting contributions to radio arts and sciences.
O’Brien has also served on a number of boards of other public companies including Sprint and Williams Telecommunications.
He also serves on the board of several private companies and charitable organizations.
O’Brien is a graduate of Georgetown University and received his law degree from Northwestern University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Anterix and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2020 ($).