RCN CEO Gets Extension, Chairman to Retire

RCN Corp. said Thursday that its board of directors has renewed Peter Aquino as president and CEO. Aquino will get a three-year extension.

The company also said James Mooney, who has served as executive chairman of RCN since 2005, has completed his service and has decided to retire from the board. Michael Katzenstein, an independent member of the board of directors, has been named non-executive chairman of the board. He has been a director since 2005.

"With the completion of RCN's financial turnaround, and the demonstrated effectiveness of Pete Aquino and the rest of the RCN management team, the time is right for me to step away from RCN to focus on my other business endeavors,” Mooney said. “I am very proud that I leave RCN as a far stronger business than when I arrived, and I have the greatest confidence that the management team will continue to deliver growth and value to shareholders under Pete Aquino's leadership."

The board of directors, through its nominating/corporate governance committee, is now considering candidates to fill the vacant board seat.

RCN Corp. www.rcn.com

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