Global Crossing appoints new CEO, considers merger
Global Crossing announced today that the head of its Asian venture Asia Global Crossing will head replace Tom Casey as CEO of the parent corporation in a move that might lead to the merger of both companies.
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Asia Global Crossing CEO John Legere assumed his new post today as CEO and is expected to preside over a major restructuring of the two companies, including the sake of its global marine operations and IPC. Asia Global Crossing is 59 percent owned by Global Crossing. The two companies reported that they are in merger discussions.
Global Crossing also said it would miss third-quarter projections due to falloff in sales, but Asia Global Crossing reiterated its third-quarter guidance.
--Kevin Fitchard, staff writer
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© 2012 Penton Media Inc.
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