Bankrupt XO Communications Inc. will have a new leader when it emerges from
financial restructuring.
The troubled broadband-network provider announced Friday that chairman and
CEO Daniel F. Akerson has decided to step down once the Chapter 11 proceedings
are complete.
Reston, Va.-based XO, which provides voice and data services in 60 U.S.
markets, received final approval for its restructuring plan last month. Once the
restructuring is complete, financier Carl Icahn will hold controlling interest
in the company.
Akerson, who has led XO since September 1999, will continue as a company
consultant.
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