Clearwire announced yesterday that its director of the
board and CEO has resigned for personal reasons.
John Stanton, chairman of Clearwire’s board of directors, will replace outgoing
CEO Bill Morrow on an interim basis. Morrow will advise the company while it
searches for his permanent replacement.
The company's chief commercial officer and chief information officer are
both leaving as well. Meanwhile, the role of chief operating officer has been
created and filled, and a new CFO has been promoted.
Clearwire is a partner with Sprint (which owns part of Clearwire) in its WiMAX 4G network.
"Today’s changes in executive leadership are not expected to impact the
company’s progress on an agreement with Sprint to resolve wholesale pricing
disputes," the company said in its press release. "Clearwire believes
that an agreement with Sprint is imminent."
The shakeup, though, comes just as a class-action lawsuit against Clearwire and its throttling practices has
been filed. The suit, filed earlier this month in U.S. District Court, compares
the company's throttling of data speeds (at times to as slow as 256kbps)
without alerting its users of how or why the throttle was in place to a Ponzi
Clearwire's practice is akin to a bandwidth Ponzi scheme in the
sense that Clearwire advertises and sells a service, knowing in advance that
there is no way it can provide such service on an ongoing basis -- i.e.,
Clearwire sells subscriptions prior to build-out of sufficient infrastructure
to support the "High Speed Internet" it advertises. Someday, if
Clearwire sells enough subscriptions, it may have sufficient funds to go back
and create the infrastructure to support its Internet service and make good on
DSLReports' user forums have been full of complaints of
Clearwire's throttling practices.