With the appointment of Craig Jacobson to its board of directors, Charter Communications said it expects its Class A stock to return to the Nasdaq stock market over the coming weeks.
Jacobson was appointed to Charter's board yesterday. Charter, the nation's fourth-largest cable operator, made the announcement this morning. Jacobson is serving as a member of Charter's audit committee of the board, which Charter said it believes satisfies the requirements for listing of its Class A common stock on the Nasdaq stock market.
Jacobsen joins David Merritt and Christopher Temple on the audit committee.
"Craig's broad range of legal experience in the entertainment industry will be a distinct advantage for Charter, and he will strongly complement our other board members," said Eric Zinterhofer, chairman of the board. "I'm pleased that the board's final vacancy has been filled as we continue to support the company's operations and growth."
Charter emerged from pre-arranged Chapter 11 bankruptcy in November.
Jacobson is a founding partner at the law firm of Hansen, Jacobson, Teller, Hoberman, Newman, Warren & Richman, where he practiced entertainment law for the past 20 years. He is also a member of the board of directors of Expedia and Aver Media, a privately held Canadian lending institution.
Charter also announced this morning that Kevin Howard was appointed as its interim chief financial officer, effective Sunday. Howard is Charter's senior vice president, controller and chief accounting officer.
"Kevin's strong financial background coupled with his knowledge of both our company and the dynamic landscape of our industry make him the ideal candidate to fill the interim chief financial officer role," said Charter President and CEO Mike Lovett. "We are pleased to have an executive of Kevin's caliber within our organization that can step up to serve in this position while we continue our search."
With Howard as interim CFO, Charter's previously announced search to replace executive vice president and chief financial officer Eloise Schmitz continues. In April, Charter said Schmitz would leave the company when her contract expired at the end of this month.
As senior vice president, controller and chief accounting officer, Howard will continue to have overall responsibility for all of the company's internal and external accounting and financial reporting.