Majority Of WorldCom Board Resigns

Only four members, including Capellas, remain on the board.

"With the courts' approval yesterday of Michael Capellas as WorldCom's new chairman and CEO, it is now appropriate for each of us to stand down as directors and give him the opportunity to continue the process we have started to put in place substantive reforms and best governance practices," said the departing board members, in a statement.

Last month, a federal judge approved a partial settlement between WorldCom and federal regulators for an undisclosed fine. The fine was in response to civil fraud charges against WorldCom for misstating $9 billion.

The departing board members include John Sidgmore, former CEO; Carl Aycock; Max Bobbitt; Franceso Galesi; Gordon Macklin; and Bert Roberts Jr.

"I appreciate the board's hard work over the past months in laying the groundwork for good corporate governance going forward, including the appointment of three new board members," Capellas said in a statement. "These actions show that WorldCom is absolutely committed to establishing the highest standards of ethics and integrity at all levels throughout the organization."