chief executive Robert Annunziata resigned after one year on the job.

Annunziata, 51, will be replaced by Leo Hindery, former CEO of AT&T Corp.'s cable TV and Internet subsidiary, who joined Global Crossing's Web-hosting business a few months ago. Global Crossing, with offices and staff in Hamilton, is a fast growing company that is building a global fibre optic network. Annunziata didn't give a reason for resigning but said his passion is turning small companies into big ones. Under his watch, Global Crossing grew from 14,000 employees from 150.

Annunziata calls it quits Global Crossing said Hindery, 52, is the ideal executive to run the company, because he has experience running large companies and dealing with Internet businesses.

Hindery will continue to serve as chief executive of Global Crossing's Web business. Global Crossing is planning to create a tracking stock for the business.

Annunziata will remain on Global Crossing's board.

During his year as CEO, the company lost a battle with Qwest Communications Corp. to take over US West Inc.

An nunziata also came to Global Crossing from AT&T, where he was head of the company's $22 billion corporate business.

He joined AT&T in 1998 when the phone giant acquired for $12 billion Teleport Communications Group Inc., a fiber optics company Annunziata founded in the early 1980s.

Global Crossing's stock was priced at $56.43 3/4 at around close last Friday on the Nasdaq Stock Market, up $2.06 1/4 or nearly four percent.

Calling it quits: Bob Annuniziata