Link: WorldCom special report
The resignations are part of new chairman and chief executive, Michael Capellas’, pledges to restore standards and integrity at the beleaguered company.
‘These actions show that WorldCom is absolutely committed to establishing the highest standards of ethics and integrity at all levels throughout the organisation,’ said Capellas. The resignations follow two New York judges approval of Capellas as the group’s new chairman and chief executive.
The departing directors include former chief executive John Sidgmore and former chairman Bert Roberts. Both were close allies of former chief executive Bernie Ebbers and CFO Scott Sullivan.
Other resignations include non-executive directors Carl Aycock, Max Bobbitt, Francesco Galesi and Gordon Macklin. Judith Areen, another director, resigned last week.
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
Smith & Williamson has been appointed administrators of charity 4Children