Denver ? Joseph Nacchio of Qwest Communications has become the latest in a string of chief executives to step down amid questions about accounting practices and other business dealings.

Nacchio, the 52-year-old chairman and CEO of the regional telephone company, said in a statement Monday he wanted to spend more time with his family and pursue other opportunities.

Nacchio had been criticized by investors, customers and employees. And The New York Times and The Wall Street Journal reported that the Qwest board of directors asked for his resignation.

In the past year, Qwest has faced a Securities and Exchange Commission inquiry into its accounting practices, a downgrade of its credit rating to junk status and a sinking stock price.

Nacchio was replaced as chairman and CEO by Richard C. Notebaert, president and chief executive of Tellabs, a telecommunications network provider.