Global Cloud Xchange (GCX) has appointed Carl Grivner as Chief Executive Officer.
Grivner previously was the CEO of Colt Technology Services. Before joining Colt, he served three years in Singapore as CEO of Pacnet, directing the global strategy of one of Asia’s leading end-to-end communications service providers. Previously, Mr. Grivner held leadership positions for numerous companies, including Cable & Wireless plc, Ameritech, and IBM.
“It is an exciting time to get back into submarine networks, as the demand for global bandwidth is multiplying, and there is an increasing need for fiber optic interconnectivity to support the rising global data traffic,” said Carl Grivner. “GCX is in a unique position to support the escalating bandwidth consumption across emerging markets as it owns and operates one of the world’s largest private submarine cable systems, which sets the foundation for a robust global service delivery platform.”
Global Cloud Xchange emerges from Chapter 11
Global Cloud Xchange’s non-regulated businesses, representing a vast majority of the global network and operations, emerged from the Chapter 11 process. The company said its regulated businesses are expected to emerge from bankruptcy later this year following receipt of regulatory approval. Following the Chapter 11 process, GCX will have a stronger capital structure with reduced debt, and access to new working capital that can support its long-term growth. The company will also be moving forward under new ownership of its senior secured noteholders with the commitment and capital to support GCX and its investment in the future.
“I, along with the rest of the GCX management team, am looking forward to the completion of our financial restructuring process so we can fully focus on our strategic direction and future opportunities,” said Rory Cole, Interim CEO of GCX. “We are completing this process having achieved all of the objectives we set out, well positioned to build on our strategic plan and become even more competitive in our industry. GCX is emerging as a leading provider of network services in one of the fastest growing markets in the world that is seeing significant growth in the demand for data services. We are emerging with a strong business, ready to capitalize on this growth and the exciting opportunities ahead.”
GCX owns one of the world’s largest private undersea cable system spanning more than 68,000 route kms.
