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Saturday, December 17, 2011

Azzurri Communications announces new chairman and CEO

Azzurri Communications, which provides voice, data and mobile managed services in the UK, has announced the completion of its planned refinancing process. It says this puts the business in a strong and stable position, with new funding facilities to run until June 2014.

In addition, it’s made some new senior appointments. Keith Taylor will chair the new holding company while current chairman Jim McKenna steps down into a non-executive role. Vim Vithaldas is Azzurri’s new Chief Executive, replacing Mark Quartermaine who has resigned from the business to take up another appointment.

Nigel Guy is a new non-executive director, while non-exec directors Kay Ashton, Martin St Quinton (who founded the company) and Stephen Day will step down.

Keith Taylor, the new chairman, said “The restructuring of our banking facilities and balance sheet is very positive news for the business and for its customers and partners. This puts Azzurri in a very strong financial position. An important result of the debt reduction is a far greater scope for investment into a business that is already profitable, highly cash generative and in possession of an enviable enterprise customer base. I’m looking forward to working with Vim and the Board to grow the business from this very solid platform.”

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Author: The Fonecast
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