August 06, 2014
Comings & Goings: XO Communications Appoints New CFO - Phong Le
By
Daniel Brecht
Contributing Writer
XO Communications (News - Alert) (XO) is an award-winning telecommunications company (a 2014 Leading Lights award recipient) owned by XO Holdings (News - Alert), Inc., a source for global telecommunications.
The company is a renowned provider of VoIP communications and has expertise in managing high-capacity, dynamic network services and IT infrastructures to businesses and enterprises. Recent news on its site tells of a new addition to its leadership and executive team, Phong Le, who has been newly appointed chief financial officer (CFO) for XO. He takes over from Laura W. Thomas who has been in the position since June 14, 2009.
Ms. Thomas was not only the former CFO but served as vice president of finance for XO Communications (beginning in April 2000); she was a member of the executive committee overseeing the operations of the company. During her time with XO, the Telecom Service organization in Virginia, the board elected her interim CEO; she was then set to take the reins at XO with her driving the company’s strategic focus on IP and data solutions onward. Perhaps affected, whether directly or indirectly, by the company-wide layoffs that hit at XO Holdings in 2011 and thereafter, she left.Another possible cause could be the fact that XO Communications had appointed Christopher Ancell as the company's new CEO, replacing her. The actual cause, however, has yet to be disclosed.
Nonetheless, XO Communications has appointed Phong Le as CFO, as noted on its website on Monday. He joins XO after serving as vice president of financial planning and analysis for NII Holdings (News - Alert), Inc., a provider of iDEN-based mobile communications services under the Nextel brand. Most recently, he was vice president of strategy and business operations in Nextel Brazil. Before NII, Mr. Le spent years at Deloitte (News - Alert) Consulting where he worked across multiple functions to help telecommunications companies improve financial results. His working knowledge in financial planning, analysis and consulting, as well as experience in the telecommunications industry plus sales leadership role in communications and technology services makes him an asset for XO, Mr. Ancell says.
Phong's background in a financial position is extensive. Prior to joining XO Communications, he has overseen various sales, managed investor relations functions, produced revenue reporting and analysis, created monetary long-term business strategies and dealt with telecommunications accounting functions through his years with other companies. Therefore, he brings several years of experience in finance and telecommunications to the CFO position at XO. In this role, he will be responsible for the company's finance and accounting functions. In addition, he will make initiatives for improving the company's business processes to ensure XO meets its compliance goals, which is so important in financial services.
Mr. Ancell is certain that Mr. Le’s prior proven performance of successfully steering organizations' financial results can support XO’s continued growth initiatives. He has welcomed Phong to the XO team believing he is the right man for the CFO position.