Chief executive of Cable & Wireless Richard Brown, is to leave the company in January. He will be joining US computer services company Electronic Data Systems.
Brown will be replaced by Rod Olsen, who will be acting chief executive during the upcoming months until a replacement is appointed.
Sir Ralph Robbins is head of a committee Board in charge of appointing a new chief executive. He said of Mr Brown: “Dick has done an excellent job restructuring and focusing Cable & Wireless to turn us into a major force in the world’s communications markets. The Board wishes him every sucess in his future career.”
The news of Mr Brown’s departure has hit C&W’s share price. They have fallen by 30p to 695p, which is drop of 4.1%.
Cable & Wireless: 0171 315 4495
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