Level 3 CEO on leave after heart surgery

Level 3 Communications, Inc. (NYSE: LVLT) revealed that its CEO, Jeff K. Storey, has been forced to take medical leave due to heart surgery. Storey is expected to make a full recovery, Level 3 reports, but he is likely to be unable to work for two months.

"I am pleased to say that Mr. Storey's procedure went well," confirmed Myles S. Guber, M.D. with Colorado Cardiovascular Surgical Associates, via a Level 3 press release. "While a significant operation, it is a common procedure and I expect Mr. Storey to make a full recovery."

Sunit S. Patel, Level 3's chief financial officer, will serve as interim CEO until Storey's return. He'll also continue his CFO responsibilities. Patel was interim president of Level 3's EMEA region in 2014.

"I have full confidence that Sunit will be able to continue the solid execution and performance that we saw in 2015," said Storey in the same press release. "Sunit's knowledge of our business, along with his financial background and expertise, make him an excellent candidate to fill in for me during my absence. We also have an extremely strong and deep executive team working to support him."

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