NEW YORK, Oct. 13 -- After closing two deals that helped to erase billions of dollars of Global Crossing Ltd.'s debt, Leo Hindery has decided to step down as the company's chief executive officer. Hindery joined Global Crossing after walking away from the head position at AT&T's cable TV operation a year ago. Thomas J. Casey, who is vice chairman of Global Crossing's board of directors, will be the new CEO, the Hamilton, Bermuda-based company said.
I have done what I set out to do at Global Crossing, said Hindery. It is a privilege to now turn over the reins to Tom Casey. Tom and I have worked very closely together since I arrived and I have complete confidence in his judgment, knowledge and leadership.
Hindery's most recent accomplishment at Global Crossing was orchestrating the sale of the company's Global Center -- a fast-growing business that manages computers used for Web sites and e-commerce. Hindery will stay on as the CEO of Global Center until the sale to Exodus Communications is complete.