Level 3 Communications said today that its chief financial officer is stepping down after a replacement is found.
The Broomfield-based company’s stock fell more than 8 percent after the announcement.
Level 3, which operates a global, fiber-optic communications network, didn’t provide a reason for the pending resignation of longtime company executive Sunit Patel.
In a statement, Patel indicated he would “carefully consider the opportunities that lie ahead, at Level 3 or elsewhere.”
“Sunit is both a trusted colleague and a close friend,” said Level 3 chief executive James Crowe in a statement. “As many have observed, over the last two years the improvement in our financial strength has been nothing short of spectacular.”
Level 3 stock dropped 40 cents to $4.50 a share during midday trading.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
