Beleaguered cable giant Charter Communications said in a government filing Wednesday its executive VP and chief financial officer Stephen Silva resigned his post, citing personal reasons.
Silva, who had been technology chief at Charter for the past two years, was the latest in a slew of high-ranking execs to exit the company in recent months, even as it undergoes an investigation of accounting issues by federal regulators.
The U.S. Securities and Exchange Commission in January launched a formal inquiry on the company, looking into, among other things, the way the company handled expenses on its income statement and how it counted its subscribers.
Still, investors have begun to warm to the company’s stock lately, as the company showed some signs of moving to tame its massive debt load. Earlier this week, Charter pushed back the maturities on a large chunk of its debts, refinancing $1.7 billion in notes that were to come due in 2005 and 2006.
Wall Street was not as heartened by Wednesday’s news. Charter shares slipped by 3% in midweek trading to end the day at $4.80.