Hindery, who is also Chairman and CEO of GlobalCenter, Global Crossing's web-hosting subsidiary, will continue in these roles until
completion of the sale of GlobalCenter to Exodus Communications (Nasdaq: EXDS), which is expected early next year.
Casey, 48, is currently Vice Chairman of the Board and a director of Global Crossing and a member of its Office of the Chairman. He has
more than 25 years of broad telecommunications experience and has been deeply involved in every aspect of Global Crossing's business since
joining the company just after its initial public offering.
Casey was previously co-head of the global telecommunications investment banking group at Merrill Lynch and before that co-head of
the worldwide telecommunications legal practice at Skadden, Arps, Slate, Meagher & Flom. Earlier in his career, he helped build a specialized communications law firm in Washington, DC, after holding managerial positions at the Federal Communications Commission and the Department of Justice.
Gary Winnick, Chairman and founder of Global Crossing, said, "We appreciate Leo Hindery's efforts on behalf of GlobalCenter and Global
Crossing since last December, and we wish him well. With the pending merger of GlobalCenter, the Board and I believe Tom Casey is the ideal
executive to help us take full advantage of Global Crossing's unique market opportunity. He has extraordinary telecommunications experience, excellent judgment and leadership abilities, in-depth knowledge of every facet of our business, and a proven ability to work with me and the superb management team we have built together."
Tom Casey said, "With the buildout of the Global Crossing network now nearly complete, and our management infrastructure in place, we have an extraordinary opportunity to leverage our first-mover advantage to drive revenues and cash flow. We expect to meet or exceed our recently increased projections for the third quarter and full year, and we are well positioned for 2001 and beyond. Our IP network is the only broadband network extending from East Asia to Eastern
Europe and designed from the outset to operate seamlessly worldwide.
Our data and IP products are rolling out as we finish the network and are targeted to best meet the needs of the increasing number of global
businesses turning to the internet to improve their own operations. I believe we can build substantial shareholder value by capitalizing on
the world-class assets Global Crossing has created over the past three years."
Leo Hindery said, "I have done what I set out to do at Global Crossing - improve operating management and rationalize operating assets, realize the value of Global Center, and meet or exceed quarterly financial goals. It has been a pleasure to work with Gary Winnick, whose vision has created an enterprise with value, scale and
scope. It is a privilege to now turn over the reins to Tom Casey. Tom and I have worked very closely together since I arrived and I have
complete confidence in his judgment, knowledge and leadership."
Casey joined Global Crossing in September 1998 as Vice Chairman, reporting to Winnick. He has been a member of the four-person Office of the Chairman which has executive oversight of the company's global operations. He has also been responsible for all strategic planning
and corporate development activities and deeply involved in worldwide operations.
Before joining Global Crossing, Casey spent three years at Merrill Lynch as a Managing Director in London and New York. He was co-head of the Global Communications Group, responsible for operation
of Merrill Lynch's investment banking activity worldwide in the telecom and media industries. From 1990 to 1995, he was a partner at Skadden, Arps, Slate, Meagher & Flom in New York and Washington, DC, and co-head of the group responsible for development and operation of
the law practice representing telecom and media companies before the FCC and in corporate finance and M&A transactions.
From 1983 to 1989, he was a partner at Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, a law firm he joined in 1981 where he represented telecom and media companies before the FCC and in
transactions. From 1978 to 1981, he was at the FCC, most recently as Deputy Chief of Operations of the Common Carrier Bureau, then the primary staff responsible for regulating domestic local and long distance service, international, satellite, and wireless services. While at the FCC, he received a Presidential Management Award.
From 1975 to 1978, he was at the Antitrust Division of the U.S. Department of Justice as a trial attorney and public utilities specialist. While at the Department of Justice, he was responsible for the development of evidence concerning common carrier issues in US v.
AT&T, the government's antitrust suit that led to the breakup of AT&T. From 1973 to 1975, he was a rate and tariff analyst at ITT, responsible for development and analysis of pricing schedules for
telecom services and analysis of FCC regulatory developments.
Casey holds a J.D. degree from George Washington University Law School and a B.A. degree from Boston College.