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Road Runner ups Gordon

Exec named prexy of Internet service company

William Gordon III was tapped prexy of high-speed Internet service Road Runner on Thursday, ending what has been a lengthy search to fill the post and securing the future of the company as it heads into America Online’s merger with Road Runner, which is 50% owned by Time Warner.

Gordon was serving as Road Runner’s chief financial officer and will now oversee all operations and strategic direction of the company that connects users to the Internet using cable lines. He joined Road Runner last June.

Gordon will report to Road Runner’s board of directors.

The future of Road Runner has been in question lately as it is falling behind close rival Excite@Home, which has more than 1 million subs. (MediaOne owns the rest of Road Runner; its stake will go to AT&T once their proposed merger is completed in a few months).

With just over 550,000 customers, Road Runner is trying to expand its business. Now with a new leader and focus, it may be able to leverage AOL’s strong brand, content deals and marketing prowess.

Whether Time Warner will maintain its stake in Road Runner is still in question.

Carl Rossetti, an executive veep with Time Warner Cable, had been serving as interim CEO since June 1998, when Road Runner bowed.

Prior to Road Runner, Gordon was CFO of BET Holdings.

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