The turnover in the board room at Kirkland-based Clearwire continues. In a SEC filing this afternoon, the company announced that Ben Wolff has resigned from the board effective immediately. Wolff represented wireless pioneer Craig McCaw’s Eagle River investment arm on the Clearwire board.
“Mr. Wolff’s decision to resign is not due to any disagreements with the Company on any matters relating to the Company’s operations, policies, or practices,” Clearwire wrote in the filing. “Eagle River retains the right under the Equityholders’ Agreement to nominate a director to replace Mr. Wolff, and has informed the Company that it expects to nominate a replacement.”
It’s been a bit of revolving door at Clearwire in the past year. In the past year, Intel executive Arvind Sohani; Clearwire founder Craig McCaw and Sprint executives Dan Hesse, Keith Cowan and Steven Elfman all have left the board.
Wolff is the former CEO of Clearwire.
Shares of Clearwire surged 29 percent this week after Sprint — the company’s largest shareholder — indicated that it may forge a new 4G LTE network alliance with Clearwire. The stock is still down more than 60 percent on the year, and Clearwire continues to face a serious cash crunch.
The company has said that it will need more capital in order to build out a new 4G LTE network.