Rick Roscitt Rabbits Off
Some revolving doors spin faster than others, and it seems one wasically wabbit got caught in a wapid wevolver at MCI's (Nasdaq: WCOEQ, MCWEQ) headquarters.
Wick- er, Rick Roscitt had barely warmed the president's throne with his executive fundament before he was on his way again, lasting just seven months and three days. But where's he at now?
Roscitt bailed from struggling ADC Telecommunications Inc. (Nasdaq: ADCT) to join MCI as its president and COO last August (see ADC CEO Jumps Ship to MCI). The carrier lauded his 30 years of experience as CEO of ADC and president of AT&T Corp.'s (NYSE: T) Business Services division and AT&T Solutions.
"I am confident that Rick's leadership, energy, and telecom experience will serve MCI well as we emerge from Chapter 11," gushed MCI's CEO Michael Capellas at the time (see MCI Names Prez/COO).
But Roscitt has already done a bunk from MCI following a shift in senior management last month, when former U.S. Attorney General Nicholas Katzenbach, who has been a board member since July 2002, was named as the carrier's non-executive chairman. Capellas had until then been chairman as well as CEO, but he managed to retain a dual role by taking on Roscitt's job as president as Katzenbach took the chair.
So was Roscitt squeezed out? Or did he never really fit in? MCI is, predictably, saying next to nothing about the affair. "When Mr Katzenbach was elected by the board, Roscitt did an assessment of the situation at MCI and decided it was time to leave and pursue other opportunities," says a spokesman, who didn't know what those other opportunities might be [ed. note: more time with the family, no doubt].
Roscitt would surely be watching from afar as MCI finally emerges from bankruptcy protection, and we're keen to know what he's up to, as it'd be a shame to see such experience go to waste just as the telecom sector appears to be recovering (see MCI Starts a New Chapter).
Will he turn up at one of the RBOCs, or even his old Ma Bell hunting ground, with the inside track on MCI? Or maybe he's just spending more time with his lovely parting gifts? If you're out there, Rick, or if anyone knows where Roscitt's headed, we'd love to hear from you.
Meanwhile, we'll be vewy, vewy quiet while hunting for him...
— Ray Le Maistre, International Editor, Boardwatch