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FairPoint Announces Appointment of Karen D. Turner to the Role of Executive Vice President and Chief Financial Officer

CHARLOTTE, N.C., July 13, 2016 (GLOBE NEWSWIRE) -- FairPoint Communications, Inc. (Nasdaq:FRP), a leading communications provider, today announced that Ajay Sabherwal, Executive Vice President and Chief Financial Officer, has tendered his resignation. Mr. Sabherwal’s resignation will be effective following a structured transition and the filing of the Company’s Form 10-Q for the quarter ended June 30, 2016 with the Securities and Exchange Commission, which the Company currently expects to file during the first week of August 2016. Karen D. Turner has accepted a promotion to replace Mr. Sabherwal as CFO after previously serving as Executive Vice President, Operational Support.

Ms. Turner has more than 20 years of experience in finance, accounting, operational support and administration. She came to FairPoint in 2014 from INC Research, LLC, where she served as vice president of global business finance and before that, controller. She began her career with Ernst & Young, followed by various leadership positions in the telecommunications industry, including tenures at Madison River Communications, LLC and Sprint. She holds a bachelor’s degree from North Carolina State University and is a Certified Public Accountant.

Ms. Turner will also retain her current responsibility leading Human Resources and Risk Management while transitioning remaining responsibilities to other members of the Executive Leadership Team.

“I have known and worked with Karen for nearly 20 years, and I am confident in her ability to lead our Finance, Human Resources and Risk Management organizations,” said Chief Executive Officer Paul H. Sunu. “She brings a wealth of telecommunications, business and accounting expertise to the role, and she has worked closely with me over the past two years developing and defining our current strategic path.”

“I wish Ajay well as he departs to pursue other business opportunities,” Sunu continued. “Ajay has served as Chief Financial Officer since 2010 and was an integral part of the leadership team that led the company through our Four Pillar transformational strategy over the past five years. I would like to personally thank Ajay for his tireless support and valued counsel, and I wish him the very best in the future.”

About FairPoint Communications, Inc.

FairPoint Communications, Inc. (Nasdaq:FRP) provides advanced data, voice and video technologies to single and multi-site businesses, public and private institutions, consumers, wireless companies and wholesale re-sellers in 17 states. Leveraging an owned, fiber-core Ethernet network — with more than 20,000 route miles of fiber, including approximately 17,000 route miles of fiber in northern New England — FairPoint has the network coverage, scalable bandwidth and transport capacity to support enhanced applications, including the next generation of mobile and cloud-based communications, such as small cell wireless backhaul technology, voice over IP, data center colocation services, managed services and disaster recovery. For more information, visit www.FairPoint.com.

Investor Relations Contact: Paul Taaffe (704) 227-3623 ptaaffe@fairpoint.com Media Contact: Angelynne Amores Beaudry (207) 535-4129 aamores@fairpoint.com

Source:FairPoint Communications, Inc.