Global Crossing Taps New Co-Chairmen

The board of Global Crossing Ltd. named Myron E. Ullman and Jeremiah D. Lambert as co-chairmen.

The appointments replace Gary Winnick, the company’s founder who announced his resignation on Monday, and Lodwrick Cook, who resigned as co-chairman on Tuesday but will remain a member of the board.

Winnick presided over the explosive growth of the telecommunications firm, sold hundreds of millions of dollars in company stock, then saw the company crumble into bankruptcy in January under $12.4 billion in debt.

Lambert, 68, and Ullman, 56, have been on the company’s five-member board since April and are expected to serve as co-chairmen at least until Global Crossing emerges from bankruptcy protection in the spring and is taken over by buyers, Hutchison Whampoa Ltd. of Hong Kong and Singapore Technologies Telemedia.

-- Alex Pham