– UK, London – Colt Group S.A. today announced the appointment of Hugo Eales as Chief Financial Officer with effect from 1 November 2014. He will be appointed to the Board of Directors of the Company on that date. Hugo will be responsible for driving Colt’s financial and commercial agenda forward across the Group.
The appointment follows Mark Ferrari’s decision to return to Boston and Fidelity after having completed his secondment from Fidelity Investments. He will step down from the Colt Board as an Executive Director on 31 October 2014 and will leave the Company on 31 December 2014.
Commenting on the appointment, Rakesh Bhasin, Chief Executive Officer, Colt said: “We welcome Hugo to Colt at an exciting time as we reposition the business for significant growth opportunities with our lines of business. Hugo brings a wealth of experience to Colt, including extensive financial, commercial and operational experience with complex global organisations and IT services companies. Mark returns to Fidelity Investments with our thanks for his significant contribution to Colt over the last three and a half years”.
Hugo has held senior leadership roles in telecommunications and IT Services companies undergoing financial and operational transformation. Previous roles include Global Chief Financial Officer for BT Global Services where he drove significant cost transformation, managed positive cash flow and profitability across the organisation and drove cultural transformation within the finance teams. Prior to BT Global Services, he spent 15 years at CSC Computer Sciences Ltd, an IT outsourcing company where he held a number of senior roles in the UK, US and Switzerland. His early career was spent with Laurentian Life and Salomon Brothers.
Hugo Eales commented: “I am delighted to join Colt and look forward to driving profitable revenue growth, creating improved commercial focus across the business and increasing shareholder value.”
Colt is the information delivery platform, enabling its customers to deliver, share, process and store their vital business information. An established leader in delivering integrated network, data centre, voice and IT services to major organisations, midsized businesses and wholesale customers worldwide. Colt operates in 22 European countries with a 47,000km European network and transatlantic network capacity. Colt has metropolitan area networks in 42 major European cities with direct fibre connections into over 20,000 buildings and 20 carrier neutral Colt data centres.
In addition to its direct sales capability, Colt has four indirect channels to market: Agent, Franchise, Distributor and Wholesale which includes Carriers, Service Providers, VARs and Voice Resellers.
Colt is listed on the London Stock Exchange (COLT).
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