MCI Board Of Directors Elects Nicholas Katzenbach As Non-Executive Chairman; Michael Capellas Now President and CEO
Role of non-executive Chairman created as part of Company's corporate governance reforms
ASHBURN, Va., March 16, 2004 - MCI (WCOEQ, MCWEQ) today announced its Board of Directors has elected former U.S. Attorney General Nicholas Katzenbach as non-executive Chairman of the Board, effective upon MCI's emergence from Chapter 11 protection. Katzenbach has been an MCI Board member since July 2002.
Concurrently, Michael Capellas, who has been MCI chairman and CEO since December 2002, will become MCI president and CEO. The separation of the chairman and CEO roles is part of MCI's corporate governance reforms.
"Nick has been an invaluable asset to our Board and is the perfect choice to help guide MCI as chairman," said Capellas. "He not only brings the highest level of integrity and breadth of experience to the role, but he has a deep commitment to our customers, employees and the investment community."
Mr. Katzenbach previously served as Attorney General of the United States (1964-66), Under Secretary of State for the United States (1966-69), and as Senior Vice President and General Counsel of IBM Corporation (1969-86).
As the company prepares to emerge from Chapter 11 protection in April 2004, it also announced the following organizational changes:
- Wayne Huyard, president of U.S. Sales and Service
- Cindy Andreotti, president of Enterprise Markets
- Jonathan Crane, president of International and Wholesale Markets
These seasoned MCI executives join Bob Blakely, EVP and CFO; Stasia Kelly, EVP and general counsel; Nancy Higgins, EVP and chief ethics officer; Fred Briggs, president of Operations & Technology; Dan Casaccia, EVP of Human Resources; and Grace Trent, SVP of Communications and chief of staff, in reporting to Capellas.
As a result of these organizational changes, Rick Roscitt, president and chief operating officer, has elected to leave the Company to pursue other opportunities.
"As we prepare to emerge from Chapter 11 we have simplified our organizational structure to better serve the marketplace," said Capellas. "Over the past year we have significantly strengthened our Board of Directors and management team while continuing to focus on delivering innovation, industry-leading service and value to our customers."
About WorldCom, Inc.
WorldCom, Inc. (WCOEQ, MCWEQ), which, together with its subsidiaries, currently conducts business under the MCI brand name, is a leading global communications provider, delivering innovative, cost-effective, advanced communications connectivity to businesses, governments and consumers. With the industry's most expansive global IP backbone, based on the number of company-owned points-of-presence (POPs), and wholly-owned data networks, WorldCom develops the converged communications products and services that are the foundation for commerce and communications in today's market. For more information, go to http://www.mci.com.
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Name: | Brad Burns |
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