Microsoft CFO Maffei Resigns; Connors to Replace Him (Update1)
(Adds details in 1st, 4th-5th paragraphs.)
Redmond, Washington, Dec. 22 (Bloomberg) -- Microsoft Corp.
said Chief Financial Officer Greg Maffei resigned to become Chief
Executive of closely held Worldwide Fiber Inc., which is building
a fiber-optic network across North America.
Maffei wasn't immediately available to comment. John
Connors was named to replace him. Connors, who has worked at
Microsoft for more than 10 years, was the vice president of the
company's enterprise group, where he oversaw sales, services and
strategy for business customers.
Maffei joined Microsoft in 1993 and was named chief
financial officer in 1997. His duties included managing the
company's strategic investments and cash portfolio. He sold
Microsoft shares worth $13.8 million in December.
Vancouver-based Worldwide Fiber is building a $1.3 billion,
18,000-mile fiber-optic cable system across North America,
linking cities such as Vancouver, Toronto, New York and Los
Angeles by the end of 2000.
The company, a telecommunications subsidiary of Ledcor
Industries Ltd., also plans an undersea cable between North
America and the U.K.
Microsoft earlier this year vetoed Maffei's move to run high-
speed Internet access provider Road Runner, which is joint
venture owned by Time Warner Inc., MediaOne Group Inc.,
Microsoft, Compaq Computer Corp. and the Newhouse family's
Advance Publications.
Maffei is also the chairman of Expedia Inc., an Internet
travel site which Microsoft controls.
--Greg Chang in the San Francisco newsroom (415) 912-2992/pkc
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