EarthLink announced that it has hired Rolla Huff as CEO. Huff had to buy his new position; it cost him $750k. I would have made him buy in as well, his track record is sketchy - but then how many CLEC execs have a great record?
Huff was the CEO of the voice and data services company Mpower Communications from 1999 to 2006 and was also the president of Frontier Corp. until it was acquired in 1999. He has worked for a range of other telecoms, including serving as chief financial officer of AT&T Wireless. Earthlink founder Sky Dayton described Huff as the "perfect CEO to have at the helm during this very important time in Earthlink's history." In a show of confidence in his new company, Huff also said he purchased 100,000 shares of Earthlink stock at a cost of roughly $750,000. "I think I can get a great return on my investment," he said. "I don't put down three quarters of a million dollars trivially, but I think I'm going to get a great return." [source]