Digicel, the mobile network over which Denis O’Brien recently surrendered control to creditors, has named experienced industry figure Marcelo Cataldo as chief executive.
Mr O’Brien holds 10 per cent of the Caribbean-based group after he handed over a majority stake to lenders this year in return for a $1.6 billion (€1.5bn) debt write off, and invested $50 million himself.
Digicel said that it had appointed Mr Cataldo as the group’s new chief executive, replacing Maarten Boute, who took the job on an interim basis when it was restructured in January, and who will continue working as chief operations officer.
Mr Cataldo joins from Tigo Colomobia, part of Luxembourg-based Millicom, where he served as chief executive and president from August 2016. That company has 16 million customers, last year boosting bill-paying clients by 21 per cent and corporate digital services by 35 per cent. During his time there Mr Cataldo focused on compliance, corporate governance and social responsibility. He joined Millicom in 2010, rising through various commercial, business development, and products and services posts.
Mr Cataldo previously worked in finance and technology in Europe. From Paraguay, he holds a bachelor of science and masters in computer science from Universidad Católica Nuestra Señora de la Asunción in his home country and an MBA from Madrid Polytechnic University in Spain.
Mr Cataldo said he was proud to lead a vibrant company that has brought positive change to the Caribbean and Central America.
Rajeev Suri, Digicel Group chairman, said Mr Cataldo’s track record positioned him to lead the group through its next phase of growth.
Meanwhile Mark Foley is retiring as chief executive of national electricity grid operator EirGrid, the State company confirmed on Monday. EirGrid has appointed Martin Corrigan, chief strategy officer, as interim chief executive, and plans to begin the hunt for a successor to Mr Foley shortly.
Brendan Touhy, EirGrid chairman, thanked Mr Foley, saying his contribution to the company was widely acknowledged and appreciated. “Mark has been instrumental in leading EirGrid through a period of growth and change, and managed the country’s grid network through some challenging times, said Mr Touhy.
