Clearwire Corp's board elected John Stanton as Chairman replacing founder Craig McCaw who resigned from the wireless service provider's board December 31.

Stanton, a wireless industry veteran, has been on Clearwire's board since November 2008 and is also a managing director of Trilogy Partners, a part owner of Clearwire.

The company recently announced that Clearwire's former Chief Executive Benjamin Wolff was replacing McCaw as a board member.

The moves come as Clearwire, which is 54 percent owned by Sprint Nextel , scrambles to raise billions of dollars in additional funding needed to complete its high-speed wireless network.

From 1994 to 2004 John Stanton served as chairman of VoiceStream Corp which became T-Mobile USA when it was bought by Deutsche Telekom .

Clearwire has discussed options such as a potential equity investment from T-Mobile USA, the No. 4 U.S. mobile service. It may also opt to sell wireless airwaves.

(Reporting by Sinead Carew; editing by Derek Caney)