Helio Re-Org: CFO, Three Execs Out

“Virtual” wireless carrier Helio is shaking up its management team: At the end of March, CFO Todd Tappin, VP of operations Terry Boyle, marketing head Kiernan Hannon, and controller Michael Zemetra will be out. Last month, Helio founder Sky Dayton stepped down as chief executive to become non-executive chairman, while President/COO Wonhee Sull took over as CEO.

Valleywag first reported the newest round of staff changes, but said that those execs quit. A source close to Helio tells us that’s not true, and that the execs were let go in a re-org. Valleywag also said Dayton “won’t remain long, either,” which our source says is also false.

What’s the deal? Helio missed its growth projections by a wide margin last quarter. Last fall, the company expected to finish 2007 with between 200,000 and 250,000 subscribers — it only got 180,000.

Now that SK Telecom owns the majority of Helio — it was formerly a 50/50 JV with EarthLink — we’re told it’s focused on making it an SK Telecom operation. For now, we’re told, that means cutting costs and replanning its marketing strategy. And Helio could be on the block sooner than later.

See Also: Sky Dayton Out As Helio CEO, Growth Stalling