After at least nine months without a president or chief operating officer since co-founder Kevin O'Hara left both posts, Level 3 Communications has named Jeff Storey as president and chief operating officer. Storey is a telecom industry veteran who has been through his share of corporate change and acquisitions, both of which would seem to make him a good fit for Level 3, which is in the midst of a tough financial recovery. But Storey also has cited an interest to return to the deal-making that defined the company for several years.
Storey actually was CEO of WilTel when Level 3 acquired that company three years ago this month. Storey took charge of WilTel in 2002, after the firm where he was then president, Leucadia Telecommunications Group, helped lead WilTel out of bankruptcy with a $330 million investment.
There is much to be done at Level 3, which has shown some financial improvement throughout this year, but also said in its third quarter earnings report in October that wholesale sales cycles were lengthening.
- BusinessWeek has the Associated Press report
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