WorldCom Announces Key Initiatives for First 100 Days
TUESDAY, JANUARY 14, 2003 11:15 AM
- PR Newswire
CLINTON, Miss., Jan 14, 2003 /PRNewswire-FirstCall via COMTEX/ -- WorldCom, Inc. (WCOEQ, MCWEQ) Chairman and CEO Michael Capellas today outlined an extensive plan to re-focus the company's efforts over the next 100 days, leading to the filing of its plan of reorganization this spring. In a presentation to WorldCom's 60,000 employees, Capellas outlined the company's key initiatives, including plans to launch new consumer and business products and services, to aggressively address the small- to medium-sized business market, and additional corporate integrity initiatives. Capellas also announced a new corporate leadership structure.
"The assets are in place; our customers are supportive," said Capellas. "We have a lot of hard work to do. Today we are injecting clear focus and an outrageous sense of urgency into the mix which will drive us to achieve great things in a short amount of time."
Throughout the next 100 days, Capellas said the company will launch new products appealing to both businesses and consumers. He said there will be a strong focus on its award-winning product, The WorldCom Connection, which is based on the convergence of the company's voice and data networks -- delivering more products to businesses for better value.
On the consumer side, Capellas announced a series of initiatives to address the local and long-distance markets, including the expansion of its integrated offering, The Neighborhood built by MCI, as well as new standalone long-distance products. Capellas said he expects the division to generate 1 million new Neighborhood sales and 2.5 million new consumer long-distance sales over the next 100 days.
"With a targeted action plan and disciplined execution, we have the opportunity to attack the marketplace like never before," said Capellas. "We are going to equip our sales forces with the tools they need, and the products our customers want, to be successful."
Capellas also emphasized the company's commitment to corporate integrity and rebuilding trust in the marketplace, with employees, and with the public. He pointed to the company's new Board of Directors, the recent creation of a Corporate Ethics Office, an enhanced Code of Ethics, and new employee financial reporting and ethics training initiatives as examples.
"When I took this job I committed myself to the highest ethical standards," said Capellas. "Each member of our executive management team has made the same pledge, and we will work to institute these standards throughout the company. Everyone should know that our company will do the right thing because it's the right thing to do."
Also announced today was Capellas' new leadership structure. Executives now reporting to Capellas are:
Cindy K. Andreotti, President, Business Markets
Seth Blumenfeld, President, WorldCom International
Fred Briggs, President, Operations and Technology
Daniel Casaccia, Executive Vice President, Human Resources
Jonathan Crane, Executive Vice President, Strategy and Marketing
Victoria Harker, Acting Chief Financial Officer
Wayne Huyard, President, MCI Mass Markets
Michael Salsbury, Executive Vice President and General Counsel
Grace Chen Trent, Chief of Staff
