Leap rings up new CFO

This week Leap Wireless International Inc. brought on a new chief financial officer and, in turn, the company gave itself some financial breathing room. Walter Berger is Leap’s new CFO, set to come on board next week. Berger, previously at CBS Corp., takes over for Doug Hutcheson, chief executive and president of Leap Wireless, who had been covering the CFO duties since September 2007.
And, one day after its new hire news, Leap announced it managed to amend its senior secured credit agreement. The new agreement gives the company more expansion opportunities and allows Leap to incur additional unsecured debt and to issue certain preferred stock.
“We believe that the successful amendment of our credit agreement provides the company with the additional financial flexibility we need to support future business growth,” Hutcheson said. “We appreciate the support of the company’s senior secured lenders to help us achieve our strategic initiatives and improve the strength and the financial position of our company.”