XO CEO to Resign

XO Communications chairman and CEO Daniel F. Akerson will step down following completion of XO's financial restructuring

December 27, 2002

1 Min Read

RESTON, Va. -- XO Communications, Inc. (OTCBB:XOXOQ) announced today that Daniel F. Akerson has decided to step down as Chairman and Chief Executive Officer of the Company following completion of XO's financial restructuring. Mr. Akerson, who has been Chairman and Chief Executive Officer of XO since joining the Company in September 1999, has been the guiding force behind the Company's restructuring efforts over the past year that led to the approval of the Company's previously announced plan of reorganization last month. Completion of the restructuring is subject to the receipt of necessary state and federal regulatory approvals. Mr. Akerson will continue to serve as a consultant to XO. Mr. Akerson is stepping down to pursue other business interests and spend more time with his family. "I can't begin to tell you how pleased I am about how the XO management team pulled together throughout the restructuring process over the last year," said Akerson. "Nate Davis, our President and Chief Operating Officer, and the rest of the management team have kept XO operationally focused allowing the Company to provide the innovative, high quality services our customers have come to expect. The dogged persistence of this team has resulted in the Bankruptcy Court's confirmation of a restructuring plan that will allow the Company to emerge from the bankruptcy process with a vastly stronger balance sheet, an experienced management team and competitive products that position the Company as a competitive force in the telecommunications industry." XO Communications Inc.

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