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Global Crossing gets fourth CEO in two years

Revolving doors break land speed record...
Written by Heather McLean, Contributor

Revolving doors break land speed record...

Global Crossing, the financially troubled company that ignited Wall Street's passion for fibre optic systems, has named its fourth chief executive in two years. John Legere has replaced Tom Casey at the helm of the Bermuda-based company whose share price has plunged 96 per cent in 12 months. Legere is also CEO of a Global subsidiary, Asia Global Crossing, with which it intends to merge in order to cut costs. Global has a 59 per cent stake in Asia Global Crossing, which floated a year ago raising $7 per share, but has since dropped 80 per cent in value. Microsoft and SoftBank are also investors in Asia Global Crossing.
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