CWC.L Share News (CWC)

Cable & Wireless Communications (CWC) has appointed a new Chief Financial Officer (CFO), it announced on Monday. Perley McBride, who is described as having "extensive experience" in the US telecom and technology sector, will take up the position on June 23rd. He was most recently the CFO of Leap Wireless International, a Nasdaq-listed low-cost US mobile telecoms operator. CWC's Chief Executive, Phil Bentley, said McBride's knowledge and experience of both fixed and mobile operations would be "crucial" in delivering on the company's new strategy to return the business to growth. "He has strong relationships with US investors and banks and a track record of improving operating efficiency. He completes a strong team that will take CWC forward," he added. For his part, McBride said: "CWC is entering a new phase, with a new operating hub in Miami, a major investment plan and clear strategy to deliver growth. "It has a strong financial position and excellent opportunities in several emerging and underpenetrated markets. I'm delighted to be joining the business at this time, and look forward to working with Phil and the team." The group's share price had dropped 0.38% to 52.55p as of 13:01. NR