Level 3 CEO Returns From Medical Leave

Level 3 Communications Inc. said Chief Executive Jeff Storey has returned to work from a medical leave of absence following heart surgery, resuming all of his duties and responsibilities.

Mr. Storey had the operation to address "a recently diagnosed heart condition" in late February and had been expected to make a full recovery.

"I'm pleased to be back," said Mr. Storey said in prepared remarks on Wednesday.

Mr. Storey also thanked the company's finance chief, Sunit Patel, who added the role of interim CEO during his leave, and the company's employees for staying focused on the company's business objectives during his absence.

Chairman James O. Ellis, Jr. said the board was pleased Mr. Storey "has made such a speedy recovery and is back, in good health, at full capacity. We are confident that Jeff will pick up right where he left off."

Companies such as Level 3 have been taking advantage of rising demand for Internet bandwidth from several sectors.

The telephone and Internet carrier barely survived the fallout of the telecom bust of the early 2000s, when demand for fiber-optic cables failed to meet its builders' sunny forecasts. The ensuing shakeout pushed many telecom companies into bankruptcy.

Mr. Storey took over Level 3 in 2013 after the retirement of longtime boss James Q. Crowe. The network operator posted its first-ever annual profit the next year as cost cuts and a lighter debt load improved its financial performance. His biggest move as CEO was the 2014 purchase of TW Telecom, another Colorado company that serves business customers.

Drew FitzGerald and George Stahl contributed to this article.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

April 13, 2016 09:05 ET (13:05 GMT)

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