Level 3 CEO to step down at year end
James Crowe, CEO of Level 3 Communications, has informed the board of directors that he plans to leave his position at the company by the end of 2013.
Crowe said he was extraordinarily proud of what his team has accomplished. “It has been a privilege to lead Level 3’s incredibly talented people through times of great challenge and great opportunity.”
In order to select his replacement, and ensure a smooth transition, the company has formed a Transition Planning Committee which Crowe will be heavily involved in.
“Given the company’s financial and operational strength, we have concluded that it is an appropriate time to begin the transition to new leadership with new perspectives,” Crowe added.
In a statement today, the company said it was well positioned to benefit from the worldwide explosion of voice, data and video via the internet and will be looking for Crowe’s replacement to capitalise on the opportunities this will create.
“On behalf of the entire Level 3 organisation, I want to thank James for his visionary leadership, for his dedication and for all that he has done to build Level 3 from the ground up,” said Walter Scott Jr, chairman of the board at Level 3. “It is no exaggeration to say that without James, there would be no Level 3.”
The timing of the transition is subject to change at the board’s discretion in consultation with Crowe.