Marconi chairman and CEO resign amid job cuts

Published on .

London--The chairman and CEO of Marconi plc announced their resignations Tuesday, as the struggling telecommunications company announced that it would lay off an additional 2,000 people, or about 5% of its work force. Marconi said it would slash costs in its core network communications business by cutting 2,000 jobs on top of the 8,000 already being cut. Chairman Roger Hurn and CEO George Simpson stepped down from their posts, effective immediately. Mike Parton, who heads Marconi's Network division, has been named CEO, and Derek Bonham, a senior non-executive director, will serve as interim chairman until a new one is appointed.
Most Popular
In this article: