Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,512.38 -3.89 -0.03%
TOPIX 1,171.40 -1.97 -0.17%
HANG SENG 22,760.24 64.23 0.28%

Level 3 Announces Walter Scott, Jr. Intends to Retire as Chairman at 2014 Annual Meeting



  Level 3 Announces Walter Scott, Jr. Intends to Retire as Chairman at 2014
                                Annual Meeting

PR Newswire

BROOMFIELD, Colo., Nov. 25, 2013

BROOMFIELD, Colo., Nov. 25, 2013 /PRNewswire/ -- Level 3 Communications, Inc.
(NYSE: LVLT) today announced Walter Scott, Jr., chairman of the Board of
Directors, intends to retire from the Board of Directors effective with the
May 2014 Annual Meeting of Stockholders. In connection with his retirement,
Scott will not stand for reelection at the May 2014 Annual Meeting. Scott, 82,
has served as chairman of the Board since 1979 and has been a member of the
Board since 1964.

In connection with this announcement, the Board has adopted a transition plan
for the Chairman's role. As part of the transition plan, it is anticipated
that immediately after the company's annual meeting of stockholders in May
2014, James O. Ellis, Jr. will be appointed as Scott's successor. Ellis is
also currently a member of the Board of Directors of Lockheed Martin
Corporation, Dominion Resources, Inc. and Inmarsat PLC. Ellis has been a
member of the Board since March 2005 and is the chairman of the Board's
Classified Business and Security Committee and a member of the Nominating and
Governance Committee. Ellis retired with the rank of Admiral from the U.S.
Navy after 35 years of service.

"On behalf of the employees of Level 3 worldwide, I want to acknowledge
Walter's leadership of the Board for the more than 15 years since the start of
the Level 3 business," said Jeff Storey, president and chief executive officer
of Level 3. "Our business and all of our stakeholders have been the
beneficiaries of his steady leadership, guidance and insights, and I believe
that in no small measure we are in the position that we are today as a result.
I look forward to working with Jim Ellis to continue to build on the company's
successes."

"It has been an honor to serve as a member of the Level 3 Board and its
chairman," said Walter Scott. "I believe both the company and the management
team are in a strong position and now is the right time for me to transition
the leadership of the Board to Jim, and I look forward to continuing to lead
the Board through the 2014 Annual Meeting. I want to thank all of the Level 3
employees for their hard work and dedication, as I believe that we have the
best people in the industry."

About Level 3 Communications
Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500 company that
provides local, national and global communications services to enterprise,
government and carrier customers. Level 3's comprehensive portfolio of secure,
managed solutions includes fiber and infrastructure solutions; IP-based voice
and data communications; wide-area Ethernet services; video and content
distribution; data center and cloud-based solutions. Level 3 serves customers
in more than 500 markets in 55 countries over a global services platform
anchored by owned fiber networks on three continents and connected by
extensive undersea facilities. For more information, please visit
www.level3.com or get to know us on Twitter, Facebook and LinkedIn.

© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3
Communications, Level (3) and the Level 3 Logo are either registered service
marks or service marks of Level 3 Communications, LLC and/or one of its
Affiliates in the United States and/or other countries.  Any other service
names, product names, company names or logos included herein are the
trademarks or service marks of their respective owners. Level 3 services are
provided by subsidiaries of Level 3 Communications, Inc. 

Website Access to Company Information
Level 3 maintains a corporate website at www.level3.com, and you can find
additional information about the company through the Investors pages on that
website at http://investors.level3.com/investor-relations/default.aspx.  Level
3 uses its website as a channel of distribution of important information about
the company. Level 3 routinely posts financial and other important information
regarding the company and its business, financial condition and operations on
the Investor Relations web pages.

Visitors to the Investors Relations web pages can view and print copies of
Level 3's SEC filings, including periodic and current reports on Forms 10-K,
10-Q, 8-K, as soon as reasonably practicable after those filings are made with
the SEC.

Copies of the charters for each of the Audit, Compensation and Nominating and
Governance committees of Level 3's Board of Directors, its Corporate
Governance Guidelines, Code of Ethics, press releases and analysts and
investor conference presentations are all available through the Investor
Relations web pages.

Please note that the information contained on any of Level 3's web sites is
not incorporated by reference in, or considered to be a part of, any document
unless expressly incorporated by reference in that document.

Forward-Looking Statement

Some statements made in this press release are forward-looking in nature and
are based on management's current expectations or beliefs. These
forward-looking statements are not a guarantee of performance and are subject
to a number of uncertainties and other factors, many of which are outside
Level 3's control, which could cause actual events to differ materially from
those expressed or implied by the statements. Important factors that could
prevent Level 3 from achieving its stated goals include, but are not limited
to, the company's ability to: successfully integrate the Global Crossing
acquisition or otherwise realize the anticipated benefits thereof; manage
risks associated with continued uncertainty in the global economy; maintain
and increase traffic on its network; develop and maintain effective business
support systems; manage system and network failures or disruptions; avert the
breach of its network and computer system security measures; develop new
services that meet customer demands and generate acceptable margins; defend
intellectual property and proprietary rights; manage the future expansion or
adaptation of its network to remain competitive; manage continued or
accelerated decreases in market pricing for communications services; obtain
capacity for its network from other providers and interconnect its network
with other networks on favorable terms; attract and retain qualified
management and other personnel; successfully integrate future acquisitions;
effectively manage political, legal, regulatory, foreign currency and other
risks it is exposed to due to its substantial international operations;
mitigate its exposure to contingent liabilities; and meet all of the terms and
conditions of its debt obligations. Additional information concerning these
and other important factors can be found within Level 3's filings with the
Securities and Exchange Commission. Statements in this press release should be
evaluated in light of these important factors. Level 3 is under no obligation
to, and expressly disclaims any such obligation to, update or alter its
forward-looking statements, whether as a result of new information, future
events, or otherwise.

Contact Information
Media:                   Investors:
Kimmie Greene            Mark Stoutenberg
+1 720-888-7877          +1 720-888-2518
Kimmie.Greene@Level3.com Mark.Stoutenberg@Level3.com                                    

SOURCE Level 3 Communications, Inc.

Website: http://www.level3.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement