Even as the Securities and Exchange Commission noses around Qwest Communications International Inc., the telecom has named a new chief financial officer and has reorganized its operations.
Qwest named former Ameritech CFO Oren Shaffer vice chairman and CFO. He has replaced the current CFO Robin Szeliga, who will remain on board at Qwest as a vice president tasked with assisting in Qwest's debt reduction plans. Shaffer is one of the first to join Richard Notebaert's management team. Notebaert replaced Joseph Nacchio as Qwest's head honcho three weeks ago. Shaffer worked under Notebaert at Ameritech.
In conjunction with Shaffer's hiring, Qwest announced some reorganization changes designed to focus the business on consumers, businesses and wholesale customers. As part of the plan, Qwest's residential, wireless, cable and video businesses have been folded into the consumer market group. Annette Jacobs will spearhead the group.
To form the business group, Qwest has combined its national business accounts and global business accounts. Chifford Holtz will run the unit. Gordon Martin will continue in his role as head of Qwest's wholesale sector.
On Friday, Qwest denied a Wall Street Journal report that it was being investigated by the US Department of Justice. "We have no reason to believe that we are the subject of any investigation by the US Department of Justice," Qwest Executive Vice President and General Counsel Drake Tempest said in a statement. He said the company is cooperating fully with the SEC and Congress.