Two WorldCom execs jump ship

Two top 'old guard' WorldCom officials resigned yesterday in the wake of damning reports made on the running of the collapsed company.

The company's general counsel, Michael Salsbury, and the treasurer, Susan Mayer, left in the middle of the row set off by the publication of the reports.

WorldCom, now MCI, gave Salsbury a pat on the back, saying in a statement: "He has been a champion for competition within the telecommunications industry. During the past year, Salsbury and his team have worked diligently to ensure the company remains on track to emerge from Chapter 11 protection this fall."

One report, by Dick Thornburgh, bankruptcy examiner and former US Attorney General found: "Every level of 'gatekeeper' that had the responsibility to promote and ensure proper corporate governance was derelict in his duties to some degree."

The report found several occasions to criticise the workings of the company's treasury department and found that Salsbury was heavily involved in WorldCom's disastrous $5.8bn acquisition of Intermedia.