CLINTON, Mass.—Bernard Ebbers resigned his position as president, chief executive officer and director of WorldCom Inc.
The resignation came as WorldCom’s stock had fallen from more than $60 share a couple of years ago to less than $3 today, concern about the amount of debt the company continues to support following numerous acquisitions and a U.S. Securities and Exchange Commission investigation concerning a $366 million loan WorldCom made to Ebbers.
John Sidgmore, previously vice chairman of WorldCom has assumed the position of president and CEO, while Bert Roberts remains chairman of the board.
