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Lumos Networks appoints new CEO

WAYNESBORO, Va. (AP) -- Lumos Networks Corp. announced Friday that it has appointed Timothy Biltz as CEO of the telecommunications company.

He replaces James Hyde, who had been serving as the company's interim CEO since Lumos separated from NTELOS Holdings Corp. last year. Hyde will remain on the company's board of directors.

Biltz is a former chairman of the board of directors for iPCS Inc. and prior chief operating officer of wireless and broadcast signal tower company SpectraSite Inc.

Lumos also announced Friday that Michael Moneymaker is retiring as president of the company and his position on its board.

The company, based in Waynesboro, Va., is expected to report its first-quarter earnings next week.

Shares of Lumos fell 9 cents to $8.64 in midday trading after dropping to a 52-week low of $7.65 earlier in the day.