Greg Maffei, Microsoft's chief financial officer, joins Worldwide Fiber as chief executive officer - Company Operations

Cambridge Telcom Report, Dec 27, 1999

Worldwide Fiber Wednesday announced the appointment of Gregory B. Maffei as the company's chief executive officer.

"We are very excited to have Greg on board," said David Lede, the chairman of Worldwide Fiber. "We were looking for a leading executive and an established deal-maker who understands the convergence of software applications, the Internet and telecommunications. Greg has been the prime mover behind Microsoft's partnerships and strategic investments in the telecommunications industry."

Lede added, "Greg can use his experience and his relationships with key players internationally to build our business and enhance the value of our global network."

"This is a great opportunity," Maffei said. "Worldwide Fiber is very well-positioned to capitalize on the amazing growth in Internet and data traffic. It is well funded with abundant international assets and a very strong management team. I look forward to leading the Worldwide Fiber team and helping the company become one of the world's largest independent telecommunications companies."

Maffei was most recently senior vice-president, finance and administration, and chief financial officer of Microsoft. In that position, Maffei oversaw corporate development and the company's $35-billion dollar US cash and strategic investment portfolio. In that role, he led Microsoft's strategic partnerships and investments with AT&T, Nextel, Asia Global Crossing, Comcast, NTL, UPC and Telewest.

Previously, Maffei was Microsoft's vice-president of corporate development and treasurer. Before joining Microsoft in 1993, he was vice-president at Citicorp Venture Capital. He recently made the cover of Business Week as one of the "Rising Stars of Finance" and named a "Corporate Finance Superstar" by Global Finance.

Maffei has an MBA degree from Harvard Business School, where he was a Baker Scholar, and a BA degree from Dartmouth College. He serves on the board of directors of Starbucks, Cort Business Services, Ragen MacKenzie and Avenue A, and is a trustee of the Seattle Public Library.

Based in Vancouver, Worldwide Fiber designs, builds, operates and maintains high-speed fiber-optic networks for communications carriers, Internet service providers and corporations with high-bandwidth network needs. Worldwide Fiber is currently completing a 22,000-mile fiber-optic network in the United States and Canada, and constructing a trans-Atlantic network connecting Boston and Halifax with Liverpool and Dublin. Worldwide Fiber was established in May 1998 and includes the telecommunications division of Ledcor Industries Limited, which has been constructing communications networks for more than 13 years.