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Technology Stocks : ICGX - Intelcom Group

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To: Bill Wolf who started this subject	9/19/2000 7:42:09 AM
From: stock_bull69	of 335

ENGLEWOOD, Colo., Sept 19 (Reuters) - Telecommunications services provider ICG Communications Inc. said on Tuesday its chairman and chief executive Carl Vogel resigned. Although no reasons were given for the resignation, it came one day after the company's shares plunged 58 percent in conjunction with its disclosure that its profits and revenues would be "significantly" lower than expected this year and next amid network outages and other technical failures. The company's president William Beans will remain president and will report to an executive committee of the board. It was the second time in six weeks that the Englewood, Colo.-based company cut its forecasts for 2000 and 2001. It also said it was engaging financial institutions to explore "strategic options." Vogel was named to the positions less than a month ago, following the resignation of Shelby Bryan. Two directors Gary Howard and Thomas Hicks also resigned. Shares closed at $1-5/8 in Monday's trading on Nasdaq, down from the previous close at $3-29/32. Shares traded as high as $39-1/4 in late March. Rtr 06:23 09-19-00

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