WorldCom appoint Capellas as Chairman and CEO

Michael Capellas, who recently resigned from Hewlett Packard has been named as the new Chairman and CEO of WorldCom.

He will replace interim CEO John Sidgmore and Chairman Bert Roberts.

He will have a difficult task as the bankrupt company tries to deal with accounting scandals and the problem of keeping customers.

It hopes to come out of bankruptcy in 2003.

"I have no intention of breaking up the company and selling off the pieces, " said Michael Capellas in an interview.

"The company has great assets and the whole is much more valuable than the parts."