Steven M. Blondy, the finance chief of Dex One, plans to resign from the Cary yellow pages publisher.
Blondy, 51, will step down by July 31, and the company has started a search for a new chief financial officer, Dex One announced this morning.
He will receive a lump-sum separation fee of $2.6 million, plus other benefit payments, Dex One reported in an filing with the Securities and Exchange Commission.
Blondy has been CFO of the company previously known as R.H. Donnelley since March 2002. He helped navigate the company through bankruptcy but it continues to struggle with a slump in revenue and a shift away from traditional print advertising.
Under the leadership of Alfred Mockett, who was named CEO last fall, Dex One has been slashing costs, including hundreds of jobs nationwide.
Dex One shares closed at $2.02 on Wednesday, and are down 89 percent in the past year.