The head of a struggling Cedar Rapids-based telecommunications company is stepping down from the corporation that carries his name. Clark McLeod is retiring as chairman and C-E-O of McLeod U-S-A. McLeod says there were a number of reasons for his decision, and he says it was a decision he made.Chief Financial Officer Chris Davis is McLeod’s successor. She inherits a company that filed for Chapter 11 bankruptcy protection in January and emerged from reorganization last week. McLeod is also leaving the company’s board of directors but will keep his company stock and will continue to act as an informal advisor. He says he head to rationalize the move from the standpoint of the balance sheet, the management and the structure.After starting Teleconnect in the 1980s, he formed McLeod U-S-A in 1991.
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