In a surprising announcement to many, MTS, parent company of Allstream has announced that Dean Prevost, President of communications provider Allstream will be leaving the company on December 17th. He will be replaced by Michael Strople, the current Chief Operating Officer of the company.
Prevost now becomes the second executive to leave the organization since the Federal government blocked a deal in October to sell the operations to an Egyptian group for $520-million. Chris Peirce, MTS Allstream’s Chief Corporate Officer left the company late 2013.
News of Prevost triggered analysts to downgrade the stock and its subsequent decrease by a few points.