Two Charter Communications Inc. executives have been axed as the cable operator
tries to manage fallout from a grand-jury investigation.
Charter dismissed David G. Barford, its former executive vice president and
chief operating officer, who has been on paid leave since October, and Kent D. Kalkwarf, former
executive VP and chief financial officer. Both Barford and Kalkwarf had been with
Charter since July 2000.
Among Charter's problems: A St. Louis grand jury is probing its
accounting practices and there is a federal inquiry into the MSO's stated
In a prepared statement Monday, Charter said the U.S. attorney has said no other
company executives, including CEO Carl Vogel, "is a target of the investigation."
Replacing Barford as COO will be Margaret A. Bellville, who joined Charter
earlier this month. Previously, Bellville was executive VP of
operations for Cox Communications Inc.
Assuming Kalkwarf's position is Steven A. Schumm, most recently Charter's
executive VP and chief administrative officer. Schumm will serve as
interim CFO until a permanent replacement is found.
Charter also said Monday that it would move ahead with reauditing its 2000 and
2001 financial results.
These reaudits, along with another of 2002 financials, should be completed
in early 2003.
As for the fourth quarter, the MSO is projecting lower-than-expected cash flow
and a revenue growth rate around 9 percent.