Posted on: Wednesday, April 27, 2005
Hawaiian Telcom welcomes CFO
By Sean Hao
Advertiser Staff Writer
Hawaiian Telcom added another member to its management team yesterday, naming industry veteran Daniel O'Brien chief financial officer.
Hawaiian Telcom will be the new name for Verizon Hawaii after a sale to The Carlyle Group, which is set to close next week.
O'Brien, 50, was executive vice president and chief financial officer for Global Crossing Ltd. from 2003 to 2005.
Global Crossing filed for bankruptcy in early 2002 and was the subject of a Securities and Exchange probe into allegations it did not fully disclose deals that falsely boosted sales.
The company settled with the SEC, and three former executives each paid $100,000, but admitted no wrongdoing.
As a successor chief financial officer, O'Brien helped lead Global Crossing through external audits and SEC filings leading to the company's public listing last year.
However, O'Brien and current Global Crossing Chief Executive John Legere, were named in class-action lawsuits filed last year against Global Crossing, alleging material misrepresentations to the financial markets from December 2003 through April 2004.
Carlyle spokesman Chris Ullman said such suits are common when firms file for bankruptcy. Accounting issues at Global Crossing were inherited by O'Brien, he said, and any resulting lawsuits should not be a distraction.
"Dan will be 100 percent focused on Hawaiian Telcom and these suits will occupy none of his time," Ullman said.
Reach Sean Hao at shao@honoluluadvertiser.com or 525-8093.
O'Brien has at least 20 years experience in the industry, though most recently with troubled companies in a telecommunications sector that's struggled in recent years.
