New Clearwire CEO's best skill: He knows how to raise dough

Summary:Clearwire's new CEO Eric Prusch has been a CFO numerous times. That's a good thing given Prusch needs to raise more capital.

Given Clearwire's financial challenges and the need to raise cash it's a good thing that the company's new CEO has a long track record as CFO.

Clearwire on Wednesday named Erik Prusch as CEO. Interim CEO John Stanton will become executive chairman. Prusch had been chief operating officer at Clearwire since March, but had been CFO too. A Clearwire statement credits Prusch with leading efforts to raise $6 billion in equity and debt.

Toss in with experience as CEO and CFO at Borland Software and Prusch seems like a fit. For starters, he knows the company so there's no learning curve.

As noted on Tuesday, Clearwire's survival is being questioned as it goes hunting for more capital---again. Prusch's experience on the financial side of Clearwire may give potential investors more confidence.

Related: Clearwire: Doubts about survival emerge; Shares to 50 cents?

Topics: Banking

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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