Cable & Wireless seeks buyout for U.S. business
Jun 07, 2003
Author:
festprint
Topic: 
CEO seeks to reassure customers
By: TODD R. WEISS
From: computerworld
In a conference call today aimed at reassuring customers, the CEO of Cable & Wireless America pledged to find a new vendor to take over Cable & Wireless PLC's (C&W) U.S. operations before the London-based parent company pulls its operations out of the U.S. market.
Simon Cunningham, the CEO of San Francisco-based C&W America, told customers that his company is working to make the switch as seamless as possible and that he'll keep them informed every step of the way as the process progresses.
"It is now my path to find a new owner in the U.S.," Cunningham said. "What will we do is look at an orderly change in the business."
"We will move quickly, but not in a panicked way," Cunningham added. "I believe that in the U.S., we have a very exciting future. I do ask for your patience."
On Wednesday, C&W announced that it's pulling out of the money-losing U.S. market to focus its operations on other parts of the world (see story).
Yesterday, the company said finding a new vendor was one option being considered.
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