17th Oct 2013 06:54
LONDON (Alliance News) - Cable & Wireless Communications PLC Thursday appointed former British Gas chief Phil Bentley as its new chief executive, replacing Tony Rice who will step down at the end of the year, as it looks to grow after a recent reshaping of its businesses.
Bentley was managing director of British Gas between 2007 and February of this year, but left the company owned by Centrica PLC admitting that he was looking to be a chief executive. Under his leadership, Centrica's retail arm more than tripled profits and increased sales by 30%, taking back market share the company had lost to rivals when the UK's gas and electricity market was privatised.
At Cable & Wireless, he has been tasked with establishing the telecoms company as a leading player in Latin America and the Caribbean.
Tony Rice has led a recent restructuring of the company, selling off assets to leave it focused on those two regions, stripping out costs, and investing in new mobile and high-speed broadband infrastructure and improving customer service.
Bentley will be expected to continue that process, the company having set out plans for further investments and a further USD100 million in operating cost reductions over the next two years.
"Phil demonstrated his leadership skills at British Gas, combining strong operational capability with a real focus on customer value - experience which he will bring to CWC as we focus our business on a single region, and drive greater operational improvements," Cable & Wireless Chairman Richard Lapthorne said in a statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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