James A. Hyde resigns as CEO and president of NTELOS
James A. Hyde, the CEO and president of NTELOS Holdings Corp., a wireless phone provider based in Waynesboro, has resigned. The company announced Monday that Rodney D. Dir, a director at the company will head NTELOS during the transition period. “During the transition period, we will complete a thorough search for a new CEO,” Michael A. Huber, NTELOS’ chairman of the board said in a statement.
NTELOS also announced its second quarter financial results for 2014, reporting operating revenue of $117.8 million for this quarter down from $119.9 million for the second quarter 2013. The net income attributable to NTELOS for the second quarter 2014 was $484,000 versus $9.4 million for the same quarter last year. The total adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the second quarter 2014 was $34.4 million compared to $41.2 million for the same quarter last year. Diluted earnings were 2 cents per share for the second quarter of 2014, down from 43 cents per share for the second quarter 2013.
Dir, age 56, has been a director at NTELOS since 2011. Most recently, he served as president and CEO of Spectrum Bridge Inc., a wireless spectrum management company. From 2007 to 2011, he was chief operating officer of Firethorn Holdings Inc., a provider of mobile banking and mobile commerce services, which was acquired by Qualcomm Inc. in 2007. Before that, he served as the chief operating officer of Cincinnati Bell Inc., a provider of telecommunication services.
Huber will oversee the company’s strategic relationships and external communications, the company said in a statement.