Report: Ebbers is out as WorldCom boss
By
Posted 7:05AM on Tuesday 30th April 2002 ( 23 years ago )
NEW YORK - WorldCom's top man reportedly has stepped down. <br>
<br>
The Wall Street Journal says Bernie Ebbers has resigned as CEO. <br>
<br>
The paper says he reached his decision Friday under pressure from outside directors, frustrated over the company's sinking stock price. <br>
<br>
WorldCom is under investigation by the Securities and Exchange Commission. And Ebbers himself has been under close scrutiny for a $366 million personal loan from the company. <br>
<br>
Ebbers had built the once-tiny firm into one of the world's largest telecom companies, only to see it suffer a dizzying fall from grace. <br>
<br>
WorldCom shares closed yesterday at $2.35, down 84 percent since January. <br>
<br>
The Journal says WorldCom vice chairman John Sidgemore will succeed Ebbers.
http://accesswdun.com/article/2002/4/195274
© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
