DAVIDSON – David Auger, CEO of Continuum, the communications company jointly owned by the towns of Mooresville and Davidson, died Friday at age 63.
The former regional executive for Time Warner took over Continuum, then called MI-Connection, in 2011. He had announced that he would retire at the end of June.
Auger is credited with guiding the company – which required millions of dollars in subsidies from the towns largely to cover payments $92.5 million in debt they incurred when buying the local remnants of the bankrupt Adelphia Cable system – to the point where the ownership partners announced in March that they were pursuing a buyer for Continuum.
Under Auger’s leadership, business customers increased 119 percent, total customers were up by 30 percent and revenue grew by 37 percent.
The towns’ payments to cover the company’s debt shrunk from $7 million in 2012 to a projected $3 million for the fiscal year ending June 30.
“David was a wonderful person and a great leader,” said Continuum Board of Directors Chairman Larson Jaenicke. “He will be missed.”
Board member Bob Guth, who has a background in telecommunications, was appointed as interim CEO effective May 18.
“With Bob’s extensive telecommunications and CEO experience, and his mergers and acquisitions expertise, as well as his familiarity with Continuum as a member of the board, Bob is the perfect choice to step right in and keep the system operating to meet performance goals and proceed through the sale process,” Jaenicke said in a statement.
Added Guth: “David’s passing is a terrible loss for all of us – employees and board members alike.”
The towns will continue to market Continuum, “with a potential sale later this year,” the company said.
A celebration of life for Auger will be held Saturday, June 1, at 11 a.m. at Heritage/Weddington Funeral Home, 3700 Forest Lawn Drive, Matthews.