Nacchio Leaves Qwest

DENVER -- Qwest Communications International Inc. (NYSE: Q) announced today that its Board of Directors has unanimously elected Richard C. Notebaert, former chairman and CEO of Ameritech Corporation, as its chairman and CEO, effective today. Notebaert succeeds Joseph P. Nacchio, who voluntarily resigned from his position as chairman and CEO and from the Board. Nacchio has agreed to serve as a consultant to the company for up to two years, to assist in transition, strategy, planning and other matters of importance to the company. At the same time, Philip F. Anschutz resigned as non-executive chairman of the board. Anschutz remains a director and chairman of the executive committee of the board. The company plans no changes in strategy or operations. Anschutz said, "When Joe Nacchio came on board in 1997, Qwest was a very different company. We had a foundation, but needed a leader to bring technology and a vision to life and grow Qwest into a full-service communications company. Few companies have attempted to achieve so much and even fewer have ever accomplished such a goal. Joe Nacchio did that and more- he brought a renewed focus on customer service and prepared us for re-entry into the long-distance business. We wish him well."Frank Popoff, a Qwest board member and chairman of the compensation committee, said, "Our initial vision is intact. We have great talent and our operations are strong. We must now focus on rebuilding shareholder value and ensuring that Qwest's employees, partners and customers can benefit from our strengths." Popoff continued, "We need an experienced new leader with strong operational skills for the next phase of the company's development. We are fortunate to have attracted someone of Dick Notebaert's stature and experience. The board believes Dick is the right CEO to lead Qwest as it takes full advantage of its unique assets and market position for the benefit of all stakeholders." Joe Nacchio said, "I am proud of all that we have accomplished in bringing Qwest to this point. After criss-crossing the globe for five and one-half grueling years to build Qwest, living in two different cities, and having achieved our major goals, I have expressed my desire to spend more time with my family and pursue other opportunities." Nacchio continued, "The company's fundamentals are strong and it will have enormous opportunities in the period ahead as Qwest reduces debt and as the regional economy recovers. Operationally, Qwest's local service results are at record highs, long-distance approval is within reach and Qwest has the infrastructure in place to serve its growing market share in enterprise accounts and to offer long-distance in its region almost immediately after approval. I look forward to assisting in the transition." Dick Notebaert said, "I am honored to have been asked by the board to join the Qwest team. In considering this new position, the opportunity to create substantial value at Qwest was simply too compelling to resist. The company has superb assets, a powerful position in its 14-state region, a solid customer base, a strong management team and a talented and resilient work force. I look forward to working with Qwest's board, management and employees to make the company all it can be in the years ahead." Notebaert, 54, was chairman and CEO of Ameritech, the regional Bell company in five Midwestern states (Illinois, Indiana, Michigan, Ohio and Wisconsin), from 1994 until 1999, when it merged with SBC Communications. Under his leadership, Ameritech produced exceptionally strong financial results among major U.S. local communications companies, including 45 percent sales growth and 293 percent total return during the period, and five straight years of double-digit earnings growth and Ameritech's market capitalization more than tripled to $70 billion. Most recently, Notebaert has been president and CEO of Tellabs, Inc. since 2000. Notebaert is also a director of Aon Corporation and Cardinal Health, Inc., and a trustee of the University of Notre Dame. He is a member of the Chicago Metropolis 2020 Executive Council and a member of Brookfield Zoo Board of Advisors. He is also a member of The Business Council, the Civic Committee of The Commercial Club of Chicago and The Executives' Club of Chicago. Qwest Communications International Inc.