Close
  • Latest News
  • Cybersecurity
  • Big Data and Analytics
  • Cloud
  • Mobile
  • Networking
  • Storage
  • Applications
  • IT Management
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
Search
  • Latest News
  • Cybersecurity
  • Big Data and Analytics
  • Cloud
  • Mobile
  • Networking
  • Storage
  • Applications
  • IT Management
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News

      WorldCom Seeks New Chief

      By
      Caron Carlson
      -
      September 11, 2002
      Share
      Facebook
      Twitter
      Linkedin

        WorldCom Inc. has begun the search for a new chief executive to replace John Sidgmore, who took the helm of the shaky company in April after founder Bernie Ebbers was ousted.

        Since disclosing the companys colossal accounting mis-statements in June, Sidgmore sought to disassociate himself and current management from Ebbers and from former chief financial officer Scott Sullivan, who pleaded not guilty to charges of security fraud last week.

        While testifying before Congress over the summer, Sidgmore told lawmakers that in his previous position as vice chairman of the board, he played mostly a marketing role and was not routinely privy to the details of the companys books. He will return to his position as vice chairman once a new chief executive is named, the company said.

        In a press release, Sidgmore said that now is the appropriate time for him to leave. “By returning to my vice chairman role, after the search is complete, I along with Bert Roberts will be able to remain active in a strategic capacity while our new CEO manages the day-to-day operations of the company and the overall bankruptcy process.”

        As president and CEO for five months, Sidgmore attempted to project a confident and optimistic image of a company voluntarily restructuring to put itself back on course. Despite his numerous statements that the company would try to avoid bankruptcy, WorldCom filed for Chapter 11 protection July 21.

        The company maintains that it will emerge from bankruptcy in mid-2003.

        Related Stories:

        • WorldCom Bolsters VPN Services
        • AT&T: WorldComs Not All That
        Avatar
        Caron Carlson

        MOST POPULAR ARTICLES

        Android

        Samsung Galaxy XCover Pro: Durability for Tough...

        Chris Preimesberger - December 5, 2020 0
        Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
        Read more
        Cloud

        Why Data Security Will Face Even Harsher...

        Chris Preimesberger - December 1, 2020 0
        Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
        Read more
        Cybersecurity

        How Veritas Is Shining a Light Into...

        eWEEK EDITORS - September 25, 2020 0
        Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
        Read more
        Big Data and Analytics

        How NVIDIA A100 Station Brings Data Center...

        Zeus Kerravala - November 18, 2020 0
        There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
        Read more
        Apple

        Why iPhone 12 Pro Makes Sense for...

        Wayne Rash - November 26, 2020 0
        If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
        Read more
        eWeek


        Contact Us | About | Sitemap

        Facebook
        Linkedin
        RSS
        Twitter
        Youtube

        Property of TechnologyAdvice.
        Terms of Service | Privacy Notice | Advertise | California - Do Not Sell My Information

        © 2021 TechnologyAdvice. All Rights Reserved

        Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

        ×