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January 14, 2003 — (WEB HOST INDUSTRY REVIEW) — The new chairman, president and CEO of communications carrier WorldCom, Michael Capellas, will reportedly discuss his broad plan to help the company emerge from bankruptcy during a presentation, telephone conference and Web-cast to take place starting 11:00 am on Wednesday.
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According to reports, Capellas is expected to outline plans for focusing on corporate customers, strengthening the company’s Wall Street credibility and boost productivity. He is not expected to address plans for job cuts or asset sales, or unveil a new brand name for the company.
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Reports say Capellas’s speech will focus on addressing employee morale problems, and demonstrating a commitment to integrity.
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Analysts say WorldCom needs to address problems with customer retention and revenue, cut costs and dump unprofitable accounts and strengthen credibility with investors, even before the full extent of WorldCom’s accounting problems are known. Capellas is also expected to work quickly to rebuild the company’s board, from which six directors resigned last month.
