" writeme += "

" writeme += "" writeme += "" writeme += "" writeme += "

" playme.document.write(writeme); playme.document.close(); if((navigator.appName == "Netscape") && (navigator.appVersion.substring(0,1) >= "3")) {playme.focus();} if((navigator.appName == "Microsoft Internet Explorer") && (navigator.appVersion.substring(0,1) >= "4")) {playme.focus();} if (playme.opener == null) { playme.opener = self; } } function play(vid,neth,netl,realh,reall) { var cm=GetCookie("playbar"); if (cm != null) { //if (cm=="nh" && neth=="t") { cm="hi.asx"; //if(aol||nstr||iebug) { //} else { // showvid('asf',vid+cm); //} } else { if (cm=="nh" && neth!="t") { this.sec=1; pbw(vid,neth,netl,realh,reall); } } if (cm=="nl" && netl=="t") { cm="lo.asx"; //if(aol||nstr||iebug) { //} else { // showvid('asf',vid+cm); //} } else { if (cm=="nl" && netl!="t") { this.sec=1; pbw(vid,neth,netl,realh,reall); } } if (cm=="rh" && realh=="t") { cm="hi.rmm"; if(aol||iebug) { } else { showvid('rm',vid+cm); } } else { if (cm=="rh" && realh!="t") { this.sec=2; pbw(vid,neth,netl,realh,reall); } } if (cm=="rl" && reall=="t") { cm="lo.rmm"; if(aol||iebug) { } else { showvid('rm',vid+cm); } } else { if (cm=="rl" && reall!="t") { this.sec=2; pbw(vid,neth,netl,realh,reall); } } } window.onerror = MSIE; // -->

Fri, Oct 27, 2000 EDT
real time quotes your portfolio registration help
biz bulletin
Top Performers
Top Perfomers
  Stock of the Day
Tip of the Day
Launch Live Ticker
Fox News Home

Indices Chart
Click on index
for more information
AT&T; Loses President of Wireless Unit
NEW YORK — Only weeks before AT&T; Corp. sells a portion of its wireless business in what could be the largest U.S. initial public offering ever, the president of the unit has quit AT&T; to head a West Coast Internet start-up.

Dan Hesse, 46, will take over as president and chief executive officer of Seattle-based TeraBeam Networks Inc, which is developing a novel wireless data technology that uses laser beams for the high-speed transmission of large chunks of data.

Meanwhile AT&T;, the No. 1 U.S. long distance telephone company, is moving quickly to replace Hesse by naming the wireless unit's chief financial officer, Mohan Gyani, as president and chief executive of AT&T; Wireless Services.

In naming Hesse as its new chief, TeraBeam said it expects the 23-year AT&T; veteran to take on the task of building its technology into a force in the market for high-speed telecommunications services.

Privately held TeraBeam, which claims to have been operating in "stealth mode for the past 30 months," makes its official debut on Monday at a tradeshow in Scottsdale, Ariz., the company said in a statement.

Hesse's departure from AT&T; is no surprise. It had been rumored persistently since December, when he was passed over for the top job at AT&T; Wireless Group, parent of the wireless services unit. AT&T; President John Zeglis got that job instead.

Hesse, considered an influential player in the wireless communications business, joins a growing list of top executives to have left Ma Bell in the past two years since C. Michael Armstrong became chairman and chief executive of AT&T;, which is also the top U.S. cable television company.

"AT&T; is losing top talent faster than I can keep track of," industry analyst Jeffrey Kagan, of Kagan Associates, said. "This is obviously a big blow, but not totally unexpected. When the top spot in wireless was given to Zeglis instead of Hesse, many industry watchers knew it was just a matter of time."

Hesse's leaving also comes just weeks before AT&T; is prepared to sell up to 20 percent of its wireless business in a deal that could fetch $8 billion to $10 billion, which would trump the $5.47 billion debut of United Parcel Service Inc. (UPS.N) last November as the largest U.S. IPO ever.

It now falls to Gyani, 48, to fill Hesse's role as head of AT&T;'s domestic wireless voice and data operations, the nation's largest.

"It will be hard to fill Dan's shoes," Kagan said.

Gyani is a recent hire who came to AT&T; from AirTouch Communications, where he had been CFO until Britain's Vodafone bought AirTouch, forming Vodafone AirTouch Plc.

AT&T; said Gyani's will focus will be expanding AT&T;'s wireless footprint nationally, particularly in the data arena.

AT&T; shares were off 5/16 at 52-5/8 in late morning trading Thursday on the New York Stock Exchange.

More Marketwire More MarketWire News Top of Page

© 2000, News Digital Media, Inc. d/b/a Fox News Online
All rights reserved. Fox News is a registered trademark of 20th Century Fox Film Corp.
Data from Thomson Financial Interactive is subject to the following Privacy Statement

© 2000 Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
© 2000 Reuters Ltd. All rights reserved