US Cellular names Meyers as new CEO

NEW YORK (AP) -- Wireless carrier U.S. Cellular Corp. has named longtime executive Kenneth Meyers as president and CEO.

Meyers succeeds Mary Dillon, who has resigned to become CEO of Ulta Salon, Cosmetics & Fragrance Inc.

Meyers most recently served as executive vice president and chief financial officer of Telephone and Data Systems Inc., U.S. Cellular's majority owner. He is a board member for both companies.

Meyers joined U.S. Cellular in 1987 and has held other positions there, including executive vice president and CFO.

Its shares hit a 52-week low of $32.25 on Friday. They are down 22 percent from their 52-week high of $41.54 last July.