Leadership Transition at TDS: Walter C. D. Carlson Named New CEO

TDS Announces Major Leadership Transition

In a pivotal move for the telecommunications company, Telephone and Data Systems, Inc. (NYSE: TDS) revealed that Walter C. D. Carlson will take over as President and Chief Executive Officer effective February 1, 2025. This transition sees him succeeding LeRoy T. Carlson, Jr., who will assume the newly created Vice Chair position.

A New Era Begins

Walter Carlson's appointment marks a significant shift in leadership, as he has been a presence on the TDS Board since 1981 and has served as the non-executive Chair since 2002. His leadership played a vital role in steering TDS through critical phases, including the rise of wireless communications and the transition of TDS Telecom from a conventional telephone provider to a robust broadband services company. Furthermore, as the new CEO, Walter aims to enhance TDS's long-term strategies and overall service excellence.

In his own words, Walter stated, "It’s an honor to lead TDS at this pivotal moment in the company's history. I have a tremendous amount of respect and admiration for Ted’s leadership and for the mission-driven culture that we have built at TDS since it was founded over 50 years ago." This sentiment reflects the deep-rooted values within TDS, focusing on delivering high-quality services to customers across the United States.

Continued Commitment to the Company

LeRoy T. Carlson, Jr., who has led TDS through various transformations, expressed full support for his successor's appointment. In his new capacity as Vice Chair, he will concentrate on enterprise strategy while remaining involved as Chair of the Board of UScellular (NYSE: USM). Ted Carlson believes that this leadership transition showcases TDS's commitment to progress, ensuring that the company continues to excel in providing high-quality communications services.

Newly appointed Lead Independent Director, Christopher D. O'Leary, praised the strategic vision behind this leadership transition, noting that it optimizes the involvement of TDS's founding family members. Chris added, "This CEO transition allows us to optimize the contributions of TDS' founding family members, Ted and Walter, demonstrating the Board's commitment to an executive succession that prepares us for ongoing success."

Walter Carlson's Background and Experience

Before assuming the role of CEO, Walter Carlson had an accomplished career as an attorney at Sidley Austin LLP, where he spent over 44 years. During his tenure, he held various leadership roles, including being part of the Executive Committee from 2002 to 2018 and leading the firm’s securities and shareholder litigation practice. His extensive experience in law and business is expected to significantly benefit TDS as it navigates through the complexities of the telecommunications landscape.

Walter obtained his bachelor’s degree from Yale University and earned his Juris Doctor from Harvard Law School, equipping him with a strong academic foundation to lead TDS into its next chapter.

TDS Overview

Founded in 1969 and headquartered in Chicago, Telephone and Data Systems, Inc. provides wireless, broadband, video, and voice services to approximately 6 million customers nationwide through its subsidiaries, including UScellular and TDS Telecom. With around 8,000 employees as of September 30, 2024, TDS is well-positioned for growth and innovation in the telecommunications sector.

For additional information regarding TDS's financial status, including quarterly earnings and shareholder updates, please visit investors.tdsinc.com.

This transition reflects a strategic move towards ensuring sustained growth, new opportunities, and, most importantly, maintaining TDS’s steadfast commitment to serving its customers effectively and efficiently for years to come.