WorldCom loses second boss in six months

NEWS John Sidgmore president and CEO of WorldCom, is to step down as soon as a replacement can found, despite only being in the job for under five months, the company announced yesterday. Sidgmore stepped in as an interim boss following the departure of his controversial predecessor Bernie Ebbers who left the debt-laden company owing an unpaid loan of $408m. Whether Sidgmore jumped or was pushed remains unclear. Reports in the Washington Post claim at least two WorldCom board members were lobbying for his sacking prior to yesterday's announcement. WorldCom's board also met yesterday to discuss whether to rescind a severance package for Ebbers which includes a waiving of the $408m loan on top of an annual payment of $1.5m for life. However, no action was taken, according to a report on Reuters.