Cable & Wireless announced that its current CEO, Graham Wallace, will be leaving the company as soon as a replacement is found. The company also announced a number of changes to its Board of Directors. Rob Rowley, a non-executive director and chairman of the audit committee has been appointed executive deputy chairman. Don Reed, executive director and Raymond Seitz, non-executive director are retiring from the Board. Tony Rice and Bernard Gray will join the Board with immediate effect.
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- In November, Cable & Wireless announced that it would withdraw from certain markets in the US and Continental Europe and restructure its operations in the UK and Japan. http://www.convergedigest.com/Mergers/financialarticle.asp?ID=5573
