CEO of Louisiana-based CenturyLink to retire this May
Mar. 07, 2018
MONROE, La. (AP) — Louisiana-based CenturyLink Inc.'s chief executive is moving up his retirement to May of this year.
Glen F. Post III will retire May 23, the day of the telecommunications company's 2018 annual shareholder meeting, according to a news release issued Tuesday. He had previously announced his intention to retire effective Jan. 1, 2019.
Post says that retiring after 42 years of service — 26 as CEO — is bittersweet. But he says that he's leaving the company in great hands and is confident of its future.
President and Chief Operating Officer Jeff Storey will take over as CEO and president upon Post's retirement.
Storey said Post has done a tremendous job leading the company headquartered in Monroe.
"His vision has equipped CenturyLink with the capabilities to meet the ever-increasing demand for bandwidth, provide the digitalization of life for our consumer customers and address the evolving complexity for our enterprise customers," he said.
The company also announced that Harvey Perry will remain in his role as chairman of the board of directors and Bruce Hanks has been appointed as lead independent director.
Perry said CenturyLink has undergone massive growth under Post's leadership, with annual revenues rising from $281 million in 1991 to about $24 billion in 2017.
"It's a remarkable track record. But just as impressive is the steady example of selfless leadership, concern for others and doing the right thing that Glen has exhibited during his more than 40 years of service. He has left an indelible impression on the culture and history of our company," Perry said.
Post will continue to serve as a board member but said he will not be chairman, as was originally announced. He said he wants to make sure it's clear that Storey is the company's new leader.
Perry said the company is fortunate to have Storey following in Post's footsteps.
"Jeff has worked tirelessly to make the integration a success. He has a proven track record and we are highly confident in his ability to take the reins from Glen and push our vision forward," Perry said.
CenturyLink is one of Louisiana's largest employers with 2,700 workers and an annual Louisiana payroll exceeding $200 million. Most of those employees are located at the company's corporate headquarters.