Saturday, 23 July 2016
Last updated 7 hours ago
Feb 27 2012 | 1:41pm ET
Harbinger Capital Management has named a former Reader's Digest and AT&T executive the new finance chief of its permanent capital vehicle.
Thomas Williams will join Harbinger Group a week from today as CFO. He succeeds Francis McCarron, the former Triarc CFO who will leave the firm at the end of April after two years at Harbinger.
Williams was CEO of RDA Holding, which publishes Reader's Digest, for roughly six months last year, after spending two years as its CFO. Williams formerly spent two decades at AT&T and was CFO of Affinion Group Holdings from 2007 to 2009.
McCarron's exit and Williams' entrance come amidst much turmoil at Harbinger. The hedge fund has invested more than half of its capital in wireless internet venture LightSquared, which is set to lose its Federal Communications Commission approval.