Cable & Wireless Communications loses CFO ahead of Miami move

Tim Pennington, chief financial officer (CFO) at Cable & Wireless Communications (CWC) is quitting the company on Tuesday to take up another CFO position with an unnamed company in London.

Pennington’s decision to leave the company comes ahead of its move to Miami from London in July.

The search is now on for his successor, though CWC said he’ll remain available to the business until early June, following the company’s year-end preliminary final results.

Phil Bentley, chief executive, commented:

Tim has played a vital role in the successful transformation of CWC since our demerger in 2010. He has reshaped the group to its current focus on the Caribbean and Latin America.

We have now established our new operating hub in Miami, Florida and we will be recruiting a new CFO who will be based there.

Details of Pennington’s new job will be announced shortly.