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Tony Rice stepping down as CEO of CWC
2013-10-17 15:34:20 | (0 Comments)
Tony Rice will be stepping down as chief executive officer of the British-based Cable & Wireless Communications (CWC), parent company of LIME, the company announced today.
Tony Rice - File
The company did not give a specific reason why Rice is relinquishing the position beyond saying that he decided to step down ahead of the establishment of CWC’s new executive office in Miami, Florida, United States.
He will leave the board at the end of the year.
CWC has also announced the appointment of Phil Bentley as Chief Executive Officer, succeeding Rice, with effect from January 1, 2014.
CWC said Bentley was previously Managing Director at British Gas, the United Kingdom’s leading energy and services provider between 2007 and 2013.
Prior to this he was Managing Director, Europe and Group Finance Director at Centrica and served on its board since 2000.
“Phil will take forward the company’s strategy of establishing CWC as the leading provider of mobile, fixed line and broadband communications services in Latin America and the Caribbean region,” the company said in a statement.
CWC said it is investing in its operations in the region, particularly in mobile data, high-speed broadband and customer experience systems, as well as considering strategic acquisition opportunities.
It has also committed to reducing operating costs by US$100 million over the next two years.
The statement said Bentley led the turnaround of British Gas, increasing profits from Ł300 million to Ł1.1 billion, and sales by more than 30 per cent to Ł14 billion.
The turnaround saw British Gas lead the industry in service excellence, employee engagement and innovation, according to the CWC statement. Prior to his engagement at Centrica he held senior executive roles at Diageo and British Petroleum.
The statement quoted Sir Richard Lapthorne, Chairman of CWC as saying that “CWC is entering a new phase. Following our recent divestments, we now have a business with a single geographic focus and a strong balance sheet and we are investing in growth areas of mobile data and high-speed broadband.”
Tony Rice joined Cable & Wireless as a non-executive director in 2003 going on to become Finance Director of Cable & Wireless and then CEO at CWC.
Sir Richard said “he has reshaped the Group’s portfolio while maintaining its strong market positions and evolving its services to focus on data, which has provided an excellent platform for future growth.”
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Source: The Gleaner/Power 106 News
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