Leap Board Member Dondero Resigns
Leap Wireless International, which is reviewing a buyout offer from MetroPCS Communications, said Wednesday that board member James Dondero has resigned from the Leap board, effective Sept. 10.
The news follows Leap's announcement last week that Chief Financial Officer Amin Khalifa had resigned. Earlier this month, MetroPCS made an unsolicited takeover bid for Leap for about $5.4 billion in stock.
Dondero, president of Highland Capital Management and a Leap board member since 2004, said he had been considering the move for some time in light of his "other responsibilities and recent developments with the company."
He said he regretted what might seem to be an "awkward timing" for his departure.