Updated from 11:40 a.m. EDT
swapped out its CEO on Monday, appointing Vodafone veteran William Morrow to spearhead the firm's
Morrow takes over from Clearwire's co-founder Benjamin Wolff, who will now serve as the company's co-chairman.
Clearwire, which has combined its Internet business with that of
, recently announced
to spend $1.9 billion this year to build out its "Clear" branded 4G solution nationwide. The company is looking to build a mobile WiMAX network covering up to 120 million people in more than 80 markets by 2010.
Prior to joining Clearwire, Morrow was CEO of
Pacific Gas & Electric (PG&E)
in San Francisco, Calif. Earlier in his career, the 49-year old served in a number of senior executive positions at telecom giant
, including stints as CEO of the company's European and UK operations, and president of Vodafone KK in Japan. Morrow has also worked for
"Bill Morrow has developed a global reputation in the telecommunications industry as a highly regarded executive with an extraordinary track record of success in U.S., Europe and Japan," said Craig McCaw, Clearwire's co-chairman, in a statement. "Years of experience in key positions with great companies such as AirTouch and Vodafone have given Bill a great perspective on achieving operating efficiencies and enhancing value creation to profitably build and scale businesses."
Clearwire shares were recently up 1% to $2.96.