board members have resigned, the company announced Tuesday.
The board members who offered their resignation to new Chairman and CEO Michael Capellas are: Carl J. Aycock, Max E. Bobbitt, Franceso Galesi, Gordon S. Macklin, Bert C. Roberts Jr. and John W. Sidgmore. Judith Areen resigned from the board last week.
The only board members remaining are recent appointees, including Nicholas deB Katzenbach, former U.S. attorney general; Dennis Beresford, former chairman of the Financial Accounting Standards Board, and C.B. Rogers Jr., former chairman and CEO of Equifax.
WorldCom filed for bankruptcy on July 21, less than a month after the once-hot telco shocked Wall Street by disclosing a massive accounting fraud. Since then, prosecutors have enlisted four former WorldCom workers to testify in criminal cases being brought against top executives of the company when the fraud took place.
"I appreciate the board's hard work over the past months in laying the groundwork for good corporate governance going forward, including the appointment of three new board members," Capellas said. "These actions show that WorldCom is absolutely committed to establishing the highest standards of ethics and integrity at all levels throughout the organization."