RCN Renews CEO, Names New Chairman

Aquino Inks Three-Year Deal to Remain CEO; Katzenstein Replaces Retiring Mooney as Chairman

By Jon Hemingway -- Broadcasting & Cable, 12/27/2007 10:36:00 AM

Cable operator RCN’s board gave CEO Peter Aquino a new three-year contract and announced a new chairman of the board.

Retiring executive chairman James Mooney, who has served in that role since 2005, will be replaced by board member Michael Katzenstein, who was named nonexecutive chairman of the board. Katzenstein has served on RCN’s board since 2005.

"With the completion of RCN's financial turnaround and the demonstrated effectiveness of Pete Aquino and the rest of the RCN management team, the time is right for me to step away from RCN to focus on my other business endeavors,” Mooney said in a statement.

Aquino has served as the company’s president and CEO since 2004, when it emerged from bankruptcy.

"I would like to thank Jim for his guidance and leadership as executive chairman,” Aquino said in a statement. “RCN is well-positioned to continue its record of sound performance as we execute our strategy of continuously upgrading our customer's service quality and experience, maintaining industry-leading video and broadband products and capturing the residential, commercial, carrier and small-business opportunities available to us as a result of our investments in network growth and the acquisition of synergistic businesses.”

RCN is a provider of video and data services with operations in Boston, Chicago, eastern Pennsylvania, New York and Washington, D.C. The company had 413,000 customers as of the end of September.