Second top Qwest exec to retire
Executive vice president of operations Barry Allen will retire
at the end of the month. He follows Oren Shaffer out the door.
By Andy Vuong, Staff Writer
Wednesday, June 6, 2007
Qwest announced Tuesday that Barry Allen, executive vice
president of operations, is retiring effective June 29.
The announcement comes two months after the April retirement of
former chief financial officer Oren Shaffer. Allen, 58, and
Shaffer, 65, were viewed by analysts as the Denver-based
company's top two executives behind chief executive Dick
Janco Partners telecommunications analyst Donna Jaegers said she
was surprised by Allen's announcement.
She speculates that the company may be working on a major
acquisition and that Allen and Shaffer didn't want to be part of
another big project after having helped turn around the company
over the past five years.
"I'm expecting Qwest to make an acquisition in the next year,
and I would think that might have hastened Oren and Barry's
departure -- just that they're going into a new episode of the
company, and there's going to be a lot of work," Jaegers said.
Qwest spokesman Bob Toevs said he couldn't address that
Allen said it would be "a gross misjudgment" to interpret that
his and Shaffer's retirements foreshadow other major changes
within the company. Both men also previously worked with
Notebaert at Ameritech.
"We both felt good about the business. We felt good about the
foundation we're now on," Allen said.
Allen joined Qwest in summer 2002 and, with Notebaert and
Shaffer, helped rebuild a company on the verge of bankruptcy.
Qwest has posted five straight quarterly profits, and its stock
price is trading near five-year highs, closing Tuesday at
$10.20, down 8 cents.
Allen said he wants to spend more time with his family.
"I've been at this for 35-plus years, and my children, my
grandchildren, are back in Wisconsin and Chicago," Allen said.
He said he and his wife will split their time between Wisconsin
He will continue to serve on the board of Harley-Davidson and
Fiduciary Management Inc. but doesn't have plans to take on a
new role with a major corporation.
Qwest will shift its operations structure after Allen's
departure. Currently, the company's chief information officer,
Girish Varma, and chief technology officer Pieter Poll report to
Effective June 29, Varma will report to Dan Yost, executive vice
president of product management. Poll will report to Robert
Tregemba, who will assume the new role of executive vice
president of network operations.
Staff writer Andy Vuong can be reached at 303-954-1209 or
Qwest exits - Two top-level executives at Qwest
Communications have left the Denver-based company in recent
Barry Allen - Executive vice president of operations,
retires this month
Oren Shaffer - Chief financial officer, retired in