The former head of Hewlett Packard, whose move across to WorldCom was approved last week, said the new director would be responsible for revamping the company’s board and attracting new members.
Some creditors are calling for the entire board associated with former chief executive Bernie Ebbers to step down, according to reports,
But Capellas, who will take charge of WorldCom at the beginning of December, is said to want to hold onto the three directors appointed since the departure of Ebbers. Capellas is also believed to be considering dropping the WorldCom name.
The disgraced former telecoms giant filed for bankruptcy protection in July this year, becoming the biggest case of insolvency in US history.
Valued at $175bn (£111bn) at its height in 1999, WorldCom’s collapse followed fraud charges over accounting errors which now stand at $9bn.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies