IP: Under Pressure, Ebbers Quits WorldCom

[Dave Farber <dave () farber net>]

Tuesday, April 30, 2002 Under Pressure, Ebbers Quits WorldCom
<http://www.nytimes.com/reuters/business/business-telecoms-worldcom.html?dlb
k> 

Bernard J. Ebbers, the deal-making chief executive of WorldCom Inc. resigned
this morning after the board pressured him to quit amid an 83 percent plunge
in the stock price this year and an investigation into the company's
accounting and loans to him. Mr. Ebbers, who founded WorldCom 17 years ago,
racked up $30.2 billion in debt after making 75 acquisitions throughout his
career. WorldCom's vice chairman, John Sidgmore, who ran WorldCom's Internet
unit for four years, will take over as chief executive and president.

Go to Article from The New York Times
<http://www.nytimes.com/reuters/business/business-telecoms-worldcom.html?dlb
k>