Metronet, the largest privately held fiber provider in the U.S., announced on Thursday four new executive appointments that are part of the company’s “long-term succession plan” and next phase of growth.
Effective October 1, Dave Heimbach, who’s currently Metronet’s chief operating officer, will assume the role of CEO. Prior to joining Metronet in 2021, Heimbach served as COO at Shentel, where he oversaw the operator’s fiber expansion strategy and the sale of its wireless assets to T-Mobile.
Sarah Overbaugh, Metronet’s EVP of finance and accounting, will be promoted to CFO. According to Metronet, she played a key role in the company’s recent $1.9 billion asset-backed securitization bond as well as in “several successful acquisitions.”
Current CEO John Cinelli will become Executive Chairman, whereas incumbent CFO Lohn Weber will step into the newly created role of EVP of capital markets, where he will continue to “build and foster essential relationships with lenders and investors” on Metronet’s behalf.
“These new executive appointments reflect Metronet's commitment to continuity in leadership and are a reflection of the remarkable achievements, future potential, and outstanding growth prospects of the company,” Cinelli said in a statement.
Metronet currently serves over 400,000 end-users across 16 states. It’s aiming to increase its fiber passings count for the full year 2023, as Senior Director of Business Development and Government Affairs Eddie Massengale told Fierce in February, and it may look outside of its 16-state footprint to get there.
“These newly appointed leaders are set to take us to new heights in the fiber industry, attract top-tier talent and accelerate our already incredible growth,” Cinelli added.
Indeed, Metronet seems to be ramping up its network expansion. Most recently, the operator announced it turned up service in Le Center and Waconia, Minnesota as well as in Kentwood, Michigan.
Metronet has also told Fierce it’s increasingly targeting underserved tier 2 cities across the country and expects to add several new states to its construction list in the next few years.