June 12, 2007 — (WEB HOST INDUSTRY REVIEW) — Web hosting provider Qwest Communications International (qwest.com) announced on Monday that its chairman and CEO Richard Notebaert plans to retire once a successor is selected. According to reports, Qwest’s shares fell nearly four percent after the announcement.
The company says Notebaert has expressed plans to spend more time with his family and focus on other commitments. Notebaert came to Qwest five years ago after leaving equipment vendor Tellabs. He is credited with guiding Qwest back to stability after the resignation of previous CEO Joe Nacchio, who was recently convicted of insider trading.
“I am extremely proud of our accomplishments during the past five years and have full confidence in the leadership at Qwest,” says Notebaert. “I will leave the company only when the board has selected a leader who shares our vision and will continue to guide Qwest’s solid performance and reputation as a leading national communications provider with a very bright future. I look forward to working closely with the Qwest board in its search.”
Qwest says it doesn’t have any changes planned in its strategy or operations as a result of the announcement and no timetable has been set for naming a new chairman and CEO.
Qwest recently opened its 14th CyberCenter in the Seattle, Washington area to provide secure, reliable and scaleable hosting services to businesses.
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