Global Crossing's acquisition of IXnet, Inc. (Nasdaq: EXNT) and IPC Communications, Inc. (AMEX: IPI).
Mr. Walsh is Chief Executive Officer of IXnet and IPC. He will continue at IXnet and IPC until Global Crossing's acquisition of the two companies has been completed.
Mr. Walsh will take over the current duties of Barry Porter, Senior Vice President for Corporate Development, who has oversight responsibilities for sales and marketing. Porter, one of the founding partners of Global Crossing, will retain major holdings in Global Crossing and stay on the Global Crossing board of directors.
Said Leo J. Hindery, Jr., Chief Executive Officer of Global Crossing: "David Walsh's agreement to take over the sales and marketing function at Global Crossing upon completion of our
acquisition is a coup for us as we move from a network-building enterprise into a worldwide telecommunications company with a full
range of products and services. David has built a dominant position with IXnet in the international finance community against all odds. I also want to thank Barry Porter whose invaluable leadership helped Global Crossing grow from a single trans-Atlantic cable to a world class company connecting five continents. We wish Barry every success as he transitions to a private investor role outside the company."
About Global Crossing
Global Crossing Ltd. (Nasdaq: GBLX) is building, and offering services over, the world's first global fiber optic network with 97,200 announced route miles, serving five continents, 24 countries and more than 200 major cities. The Global Crossing Network and its elecommunications and Internet product offerings will be available to over 80% of the world's international communications traffic. Global
Crossing hosts more than 300 of the top Internet brands at its web hosting division, GlobalCenter. Among the brands are some of the largest and most densely trafficked sites on the Web, including
Yahoo!, The Motley Fool, Ziff Davis, MP3.com and eToys. Global Crossing's operations are headquartered in Hamilton, Bermuda, with
principal offices in Los Angeles, California; London, England; Morristown, New Jersey; Rochester, New York; and Miami, Florida. Visit
Global Crossing at www.globalcrossing.com on the Web.