Skip to main content

Hindery avoids hot seat

Leo J. Hindery Jr. appears to have dodged a bullet amid recent accounting
controversies: The Yankees Entertainment and Sports Network CEO and former AT&T
Broadband CEO was also CEO of Global Crossing Ltd., the once-high-flying telcommunications company being
eyeballed for Enron Corp.-esque accounting.

Hindery's name hasn't been coming up much because he wasn't there long.

"I was one of three CEOs in one year," Hindery said.

After leaving AT&T, Hindery moved to Global Crossing's Web-hosting unit
in December 1999. Chairman Gary Winnick, who tends to clash with underlings,
replaced CEO Bob Annunziata with Hindery in March 2000.

Hindery took the "friction" for seven months and said he only stayed that
long to shepherd the sale of the Web division.

Of Global Crossing's accounting, he added, "No one is suggesting that anything
occurred before 2001."

Hindery's payday? Securities and Exchange Commission filings showed $1 million or so in salary and bonuses,
but his options for 2.5 million shares were canceled, unexercised. His take from
the Web-unit sale came in options on the stock of buyer Exodus Communications Inc.
Exodus' stock is now worth pennies.