Following a week of speculation, WorldCom Friday made it official: the down-and-out telco signed former Hewlett-Packard President and Chief Operating Officer Michael D. Capellas as its new chairman and CEO
Published:
16 November 2002 y., Saturday
Capellas left HP Monday after seeing through HP's merger with Compaq.
"I took this job because I am convinced that WorldCom has the assets, the customers and the people to regain a leadership role in this industry," Capellas said in a statement Friday morning.
Capellas added, "Today we are launching a new company, one that will reclaim the strengths of its past and focus on a promising future."
"I remember when this company was founded with a vision of convergence of computers and the Internet. WorldCom has always been on the forefront of this trend and will continue to lead it," he said.
WorldCom is under intense scrutiny by regulators, and the Securities and Exchange Commission expanded its civil fraud complaints against the bankrupt telecommunications firm last week after it said it might have to restate about $9 billion in revenue.
Šaltinis:
internetnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission launched "The ocean of tomorrow " call for research proposals. Oceans cover about 70% of the Earth's surface, but human activity is increasing environmental pressure on them.
more »
The EBRD is stepping up its support to the real economy in Georgia with new funds for on-lending to local businesses.
more »
Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
The European Commission has approved 16 programmes in 12 Member States to provide information on and to promote agricultural products in the European Union.
more »
New measures to help farmers through recession as milk prices tumble.
more »
Federal Reserve Chairman Ben Bernanke said the outlook for the long-suffering U.S. economy appears to be improving.
more »
The Swiss Government and the EBRD are providing €11.8 million to improve the supply of water to some 1 million people living in Bishkek, the capital of the Kyrgyz Republic.
more »
The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission.
more »
In response to the impact of the global crisis on the Romanian construction sector, the EBRD is supporting Lafarge Ciment (Romania) S.A. with a €20 million loan in Romanian lei to finance the company’s operations and to support its working capital requirements.
more »