Chang Follows Vogel Out Charter’s Door3/01/2005 5:30 AM Eastern
Charter Communications Inc. executive vice president of finance and strategy and interim co-chief financial officer Derek Chang became the latest top executive to leave the company, announcing his resignation effective April 15.
Chang is the third Charter executive to resign in the past two months. In January, CEO Carl Vogel resigned about one year before his employment contract was to expire. Later that month, chief administrative officer Steve Schumm’s position was eliminated.
Chang’s departure came as little surprise in light of Vogel’s departure. According to Securities and Exchange Commission documents, Chang had the option of resigning by April 15 if there was a change of control at the company.
Charter offered no reason for Chang’s decision. The company said it hopes to have a new CFO in place by the end of the month.
In a conference call discussing Charter’s fourth-quarter results, Chang thanked Charter for the opportunity to work there, but he offered no explanation of his decision to leave.
“I would like to say that I’m extremely grateful for the opportunity I have had at Charter,” Chang said. “It’s been a privilege to work with such a terrific group of people and I certainly wish everyone here the best.”
Chang has a long history in the cable industry, starting as treasurer of InterMedia Partners in 1994. He later served as executive VP of corporate development at Tele-Communications Inc.; CFO and chief operating officer of Global Center, the Internet arm of Global Crossing Inc.; and executive VP of Yankees Entertainment & Sports Network.