Level 3's New CEO 'Energized' By Company's Future

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Level 3 Communications Inc. has named Jeff Storey its new CEO, effective immediately.

Storey replaces James Crowe, who announced in early March that he would step down this year, after leading the company since 1997.

“Jeff was the clear and unanimous choice of the board,” said Walter Scott Jr., chairman of the Level 3 board of directors. “With 30 years of industry experience and his intimate knowledge of Level 3’s customers, employees and operating environment, Jeff is the right executive to lead Level 3 into the future.”

Prior to joining Level 3, Storey served as president of Leucadia Telecommunications Group. Before Leucadia, he worked as president and CEO of WilTel Communications, which Level 3 bought in 2005. He also has been a senior executive at Cox Communications; he was one of the founding members of Cox Business Services.

Storey said in a prepared statement that he is “energized by the opportunities ahead for our company.” He takes over Level 3 as the provider recently reported higher revenue, but not as high as Wall Street expected. The company will release its first-quarter results on April 25.