Thursday February 25, 2016 0 comments
BROOMFIELD -- Level 3 Communications, Inc. (NYSE: LVLT) announced Jeff K. Storey, Level 3's CEO, is taking a temporary medical leave of absence following successful surgery for a recently diagnosed heart condition.
Storey's leave of absence will be approximately two months, after which he will return to duty on a limited basis. He is expected to make a full recovery, the company said.
The Level 3 Board of Directors has named Sunit S. Patel, Level 3's chief financial officer, interim CEO until Storey's return. Patel will continue to serve as Level 3's chief financial officer. Patel has been Level 3's chief financial officer since 2003 and served as interim president of Level 3's EMEA region in 2014.
"I have full confidence that Sunit will be able to continue the solid execution and performance that we saw in 2015," said Storey. "Sunit's knowledge of our business, along with his financial background and expertise, make him an excellent candidate to fill in for me during my absence. We also have an extremely strong and deep executive team working to support him."
"The Board of Directors unanimously supports Sunit's appointment as interim CEO,” said James O. Ellis, Jr., chair of Level 3’s board. “We intend to respect Jeff's privacy so that he can focus on a complete and speedy recovery, and we look forward to his expected return to the company. We wish him all the best as he recovers."
"I am pleased to say that Mr. Storey's procedure went well," said Myles S. Guber, M.D. with Colorado Cardiovascular Surgical Associates. "While a significant operation, it is a common procedure and I expect Mr. Storey to make a full recovery."