Case joins MCI WorldCom board
MCI and WorldCom list the 17 executives that will become directors of the merged company, including America Online CEO Steve Case.
As expected, WorldCom and MCI shareholders both approved the merger today. The deal is going forward despite continued scrutiny of the buyout by the Justice Department. (See related story)
The 17-member board includes 11 outside members--eight named by WorldCom and three named by MCI. Six officers of both companies will sit on the board as well, and will be elected annually by shareholders.
The appointments are another example of a trend in which boards increasingly are being weighted with outside directors, and come amid widespread shareholder criticism that too many giant companies are loaded with too many inside directors.
WorldCom's selection for outside directors include Case; James Allen, former CEO of Brooks Fiber Properties; Carl Aycock, director of Master; Max Bobbit, CEO of Metromedia Asia; Francesco Galesi, chairman of Galesi Group; Stiles Kellett, chairman of Kellett Investment; John Porter, CEO of Integra Funding; and Lawrence Tucker, partner of Brown Brothers Harriman & Company.
MCI's choices for outside directors are Clifford Alexander, president of Alexander & Associates; Judith Areen, dean of the law center at Georgetown University; and Gordon Macklin, chairman of White River.
The insider directors are Bert Roberts, chairman of MCI WorldCom; Bernard Ebbers, CEO of MCI WorldCom; Gerald Taylor, CEO of MCI WorldCom International; John Sidgmore, CEO of MCI WorldCom Internet/Technology and Solutions; Tim Price, CEO of MCI WorldCom's U.S. communications subsidiary; and Scott Sullivan, CFO of the combined company.