Level 3 chairman to resign

Walter Scott Jr has announced he will retire from his position as chairman of the board of directors at Level 3 Communications.

Scott – who has served in his role since 1979 – announced his retirement yesterday and plans it to be effective as of the company’s annual meeting of stockholders in May 2014.

James O Ellis Jr has been selected as his successor and Level 3 said in a statement that the board has a transition plan in place for the changeover.

“It has been an honour to serve as a member of the Level 3 board and its chairman,” Scott said in a statement.

“I believe both the company and the management team are in a strong position and now is the right time for me to transition the leadership of the board to Jim [Ellis].”

Ellis is presently a member of the board of directors of Lockheed Martin, Dominion Resources and Inmarsat, and is also a retired US Navy admiral. His appointment to the role will also be effective as of the annual meeting of stockholders next May.

“Our business and all of our stakeholders have been the beneficiaries of [Walter Scott’s] steady leadership, guidance and insights, and I believe that in no small measure we are in the position that we are today as a result,” said Jeff Storey, president and CEO at Level 3.

“I look forward to working with Jim Ellis to continue to build on the company’s successes.”

Storey took on the position as CEO at Level 3 following the announcement of James Crowe’s resignation in March this year.

Scott's announcement closely follows Level 3's impressive performance at the 2013 Global Carrier Awards, where they won in three categories. For a full list of categories and winners, click here.

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