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Posted 10 August, 2023

TELEPHONE & DATA SYSTEMS INC /DE/ appointed new CEO

CEO Change detected for ticker NYSE:TDS in a 8-K filed on 10 August, 2023.


  On August 8, 2023, Laurent C. Therivel, the Chief Executive Officer (the CEO) of United States Cellular Corporation (UScellular), resigned from the board of directors (the Board) of Telephone and Data Systems, Inc. (TDS), effective as of the end of the day on August 8.  

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Overview of TELEPHONE & DATA SYSTEMS INC /DE/
Telecommunication Services • Wireless Telecommunications Services
Telephone & Data Systems, Inc. is a diversified telecommunications company, which engages in the provision of communications services, retail wireless connections, broadband, video, and voice connections. It operates through the following segments: UScellular, TDS Telecom, and Corporate, Eliminations, and Other. The UScellular segment provides wireless telecommunications services. The TDS Telecom segment offers communications services through fiber, coaxial, and copper networks. The company was founded by LeRoy T. Carlson in 1968 and is headquartered in Chicago, IL.
Market Cap
$1.65B
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TELEPHONE & DATA SYSTEMS INC /DE/ by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 8, 2023, Laurent C. Therivel, the Chief Executive Officer (the CEO) of United States Cellular Corporation (UScellular), resigned from the board of directors (the Board) of Telephone and Data Systems, Inc. (TDS), effective as of the end of the day on August 8. Mr. Therivel's resignation will permit him to focus on the UScellular business and on the recently-announced strategic review process, while also simplifying his reporting and other obligations during such process. Mr. Therivel agrees with and supports the decision by the TDS and UScellular boards of directors to review strategic alternatives for UScellular. His resignation is not a result of any disagreement or conflict with the Board or TDS management. The Board greatly appreciates the outstanding job that Mr. Therivel has done and is doing as the CEO of UScellular. The Board thanks him for his excellent service as a director of TDS and acknowledges that his resignation as a director is attributable to the considerations described in the second sentence of this paragraph.


On August 9, 2023, Vicki L. Villacrez, Executive Vice President and Chief Financial Officer of TDS, was appointed as a director of TDS to fill the vacancy created by Mr. Therivel's resignation. There are no arrangements or understandings between Ms. Villacrez and any other person pursuant to which she was selected as a director. Ms. Villacrez does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. The Board believes that Ms. Villacrez has done and will continue to do an outstanding job as Chief Financial Officer and expects that she will make valuable contributions as a director. The Board thanks Ms. Villacrez for taking on this important additional role.