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Short Take: MCI Communications CEO to step down

Gerald Taylor, one of the first employees hired by MCI Communications in 1969 and chief executive officer of the telecommunications giant since 1996, said he will retire at the end of the year. Earlier this month, MCI and WorldCom completed a $37 billion merger, making MCI WorldCom the second largest long-distance phone company in the United States. Taylor will remain on the new company's board of directors.

Gerald Taylor, one of the first employees hired by MCI Communications in 1969 and chief executive officer of the telecommunications giant since 1996, said he will retire at the end of the year. Earlier this month, MCI and WorldCom completed a $37 billion merger, making MCI WorldCom the second largest long-distance phone company in the United States. Taylor will remain on the new company's board of directors.