DENVER: Embattled telecom giant Qwest Communications has hired a new SVP of IR, following the retirement of Lee Wolfe.Stephanie Georges Comfort joins Qwest from Morgan Stanley, where she was senior telecoms services equity analyst.
"I've been on the buy and sell side as an analyst following the telecom industry, so to me it was clearly an interesting opportunity,
Comfort said. "The industry looked like an undervalued, underappreciated story."
Comfort joins the company at an uncertain time. Qwest reported a first-quarter net loss of $698 million last week, its eighth consecutive decline. The company's accounting practices are under investigation by the SEC. Recent press reports have speculated that CEO Joseph Nacchio may resign.
Comfort seemed to take the problems in stride. "I've always been fairly good at looking beyond the emotion of the moment, taking a step back to find opportunities for investors they may not recognize,
she said. "Times of turmoil are a potential opportunity. Sometimes you have to go out on a limb to get the fruit."