- Brightspeed Acting CEO Michel Combes has been replaced with Shawn O’Donnell
- Combes will remain as chairman of the board
- Last week, the Wall Street Journal reported that Brightspeed was close to filing for bankruptcy
Last week the Wall Street Journal reported that Brightspeed was close to filing for bankruptcy. Today, the company announced a CEO transition whereby Michel Combes, acting CEO, has been replaced by Shawn O'Donnell. Combes will remain on as chairman of the board.
O'Donnell will be the fourth person in Brightspeed's CEO chair since the company was founded in 2021. Original chief Bob Mudge was replaced by Tom Maguire in 2023. Combes assumed the Acting CEO role in late 2025 upon Maguire's retirement. Combes' departure, however, isn't entirely unexpected – he was appointed CEO of neocloud company Lambda in May 2026.
Incoming chief O’Donnell most recently served as senior managing director at FTI Consulting, in charge of the firm's Americas Telecom, Media & Technology practice. He previously held roles as CEO of telecom company Arbinet, Caribbean telecom and cable TV company Innovative Companies, and the international carrier services division of PTGi.
New Street Research's David Barden noted that O'Donnell's appointment marks a "change in tenor for the company," which last year brought in Jacky Wu for a brief stint as CFO to "improve the company's sales engine and prepare it for an entry to the ABS market." Wu retired in June 2026, passing the CFO torch to and Daniel McCullough.
Brightspeed is backed by Apollo Global Management, but has struggled to raise capital from new investors through an asset-backed financing facility secured by subscription cash-flows from its new fiber network. Late last week, the Wall Street Journal reported that Brightspeed is facing potential bankruptcy.
"With a clear need to raise debt, restructure, sell or file for bankruptcy, it makes sense to bring in a CEO with turnaround/restructuring experience," Barden wrote. "Time is ticking and a lengthy bankruptcy filing only damages value for everyone (except other, better-resourced, opportunistic fiber overbuilders)."
In a press release, Brightspeed said O'Donnell brings "30 years of experience leading, operating and advising telecommunications and technology businesses, with a strong track record of driving operational improvement and positioning companies for long-term success. His appointment reflects Brightspeed’s continued focus on disciplined execution and delivering fast and reliable broadband to homes and businesses across its 20-state footprint."
The announcement added Combes was always expected to "return to his role as chairman" and noted the company looks forward to his "continued guidance and leadership."
This is a developing story. Fierce Network has reached out to Brightspeed for commentary and will update the story when more information is available.