Alice T. Kane, a consultant for investment banking firm Blaylock & Partners, L.P. and former chairman and president of three mutual fund and variable annuity businesses within American International Group;
Jeremiah D. Lambert, formerly a senior partner with the law firm of Shook, Hardy & Bacon L.L.P.; and
Myron E. "Mike" Ullman, III, a former director general of LVMH and former chairman of the Board of DeBeers LV.
"I am pleased to welcome these prominent members of the business community to our board of directors," said Gary Winnick, chairman of Global Crossing. "We believe that these three new members, along with the current members of our board, will provide the experience and independence to assist Global Crossing in its restructuring process."
Kane, who will chair Global Crossing's compensation committee and also serve as a member of the audit committee and special independent committee, currently acts as a consultant for Blaylock & Partners, LP., a full-service investment banking firm providing underwriting, mergers and acquisitions, and research and trading services to a broad range of national and international clients. Prior to joining Blaylock & Partners, Kane was chairman and president of three mutual fund and variable annuity businesses within American International Group, having previously served as a highly regarded executive with New York Life. She served in several different roles at New York Life, including executive vice president in charge of asset management and was the company's youngest, and first woman, executive vice president and general counsel. During her 30-year career, Kane has served as a director and member of various boards, including that of the National Association of Securities Dealers.
Lambert, who will chair Global Crossing's audit committee and special independent committee, and also serve as a member of the compensation committee, is a nationally known lawyer whose practice focuses on corporate clients in regulated industries, including those in the electricity, natural gas and telecom sectors. Prior to serving as a senior partner in Shook, Hardy & Bacon L.L.P., from which he has withdrawn to join the Global Crossing board of directors, Lambert was the co-founder and chair of Peabody, Lambert & Meyers. Lambert, who began his legal practice at Cravath, Swaine & Moore, is a frequent lecturer and widely published author.
Ullman, who recently retired from full-time corporate activity, will serve as a member of Global Crossing's compensation and audit committees, as well as the special independent committee. He has extensive experience, both domestically and internationally, in corporations, government and academia. Over the past 15 years, Ullman has led major businesses in Asia (Wharf Holdings Ltd.), the U.S. (R.H. Macys & Co., Inc. and DFS Group, Ltd.) and, most recently, in Europe (LVMH Moet Hennessy Louis Vuitton and DeBeers LV). Ullman has also served on numerous business, community and not-for-profit boards.
The Global Crossing board of directors now comprises Gary Winnick (chairman), Lodwrick Cook (co-chairman), John Legere (chief executive officer), Joseph P. Clayton (president and chief executive officer of Sirius Satellite Radio and former president of Global Crossing North America), Steven J. Green (former U.S. Ambassador to Singapore), Alice T. Kane, Jeremiah D. Lambert and Myron E. Ullman.
In separate news, Global Crossing also announced today that Secretary William S. Cohen has stepped down from his board position. "We thank Bill Cohen for his dedicated service to Global Crossing," said Mr. Winnick. Mr. Cohen, who resigned due to personal time constraints, was appointed to the board of directors in April 2001.