GBLX news: *KICK A$$ CEO signed today* WOO
Wednesday February 24, 12:31 pm Eastern Time
Company Press Release
SOURCE: Global Crossing Ltd.
Global Crossing Names Robert Annunziata Chief
Executive Officer
-- Runs AT&T's $22 billion worldwide business services group
-- Will lead Global Crossing in rapid build-out of worldwide network
-- Founder and CEO of Teleport, which he sold to AT&T for $12 billion in 1998
-- Jack Scanlon named vice chairman; will lead effort to expand international customer base and
form alliances with major new telecommunication customers
HAMILTON, Bermuda, Feb. 24 /PRNewswire/ -- Global Crossing Ltd. (Nasdaq: GBLX - news), owner and operator of the
world's first independent global fiber optic network, today announced that Robert Annunziata, 50, is joining the company as
Chief Executive Officer and a director. Jack Scanlon, 57, currently CEO of Global Crossing, has been named Vice Chairman.
Since September 1998, Annunziata has been President of AT&T's $22 billion business services group, responsible for AT&T's
global network and for providing voice, data, and Internet services to 8 million business customers worldwide. Annunziata
reported directly to Michael Armstrong, CEO of AT&T, the world's largest international telecom operator.
Annunziata spent the previous 15 years as chairman and CEO of Teleport Communications Group (TCG), the country's first
and largest competitive local exchange carrier, which he built from the ground up before selling the company to AT&T for $12
billion in 1998. TCG laid 10,000 miles of fiber optic cable and built 50 local switches connecting 85 major U.S. metropolitan
service areas. Earlier in his career, Annunziata spent 17 years at AT&T in a variety of increasingly senior operations, sales and
marketing positions.
''Bob Annunziata is a world-class entrepreneur who has over 30 years of operating experience in the telecommunications
industry and a track record of creating substantial shareholder value,'' said Founder and Co-Chairman Gary Winnick. ''There is
no one better qualified than Bob to build our company into the premier global telecommunications platform for the delivery of
broadband services spanning data, voice, video and IP transmissions.''
''I have enjoyed my second stint at AT&T and working with Mike Armstrong, but running Global Crossing is the single most
exciting opportunity in telecommunications today,'' said Annunziata. ''Global Crossing is leading the industry in building a
seamless worldwide network designed to meet the exploding demand for bandwidth to handle Internet, voice, video and data
services. Without the burden of legacy equipment, we have a unique opportunity to become the global telecom operator of
choice for the new millennium. I am looking forward to working with the Board, Jack Scanlon and the entire Global Crossing
team to grow the company substantially and further increase shareholder value in the years ahead.''
Lod Cook, Co-Chairman, said: ''Jack Scanlon has done an outstanding job as CEO over the past year and continues to be a
tremendous asset to Global Crossing. Under his management, we passed critical milestones in great shape -- reaching over $1
billion in contracted sales and raising over $4 billion to build the network. Working with our strong management team, Bob will
now take Global Crossing to the next level and Jack will continue to play a key role in forging alliances with major new
telecommunication customers, building our international relationships, and delivering a state-of-the-art global telecommunications
network.''
About Global Crossing
Global Crossing is building and operating the world's first independent global fiber optic platform for data, voice, video and
Internet transmissions. The Global Crossing network will span four continents and address 80% of the world's international
traffic. Global Crossing's operations are headquartered in Hamilton, Bermuda, with holding company headquarters in Los
Angeles, and offices in New York City; Morristown, New Jersey; San Francisco; Miami; London; Amsterdam; and Buenos
Aires. For more information, visit the Global Crossing website at www.globalcrossing.bm on the World Wide Web. |
