Frontier Communications (NYSE:FTR) stock has taken quite a beating over the past couple of weeks (down ~26%), ever since it announced that its CFO and EVP R. Perley McBride is resigning from the company. Perhaps unsurprisingly, investors seem to have mixed opinions about this high-profile departure. While some believe that the company will be in tatters after Perley’s exit, others feel that it’s good riddance. So, I wanted to discuss both sides of the development in this article. Granted that Frontier’s management hasn’t made the best of the best financial decisions in the past, but the departure of its CFO might have more downside than upside over the short-term time frame in light of the company’s delicate financial positioning. Let's take a closer look to have a better understanding of it all.
(Source: Bigstockphoto, Image license purchased by author, Unrelated to FTR)
