Azzurri Communications CEO Vim Vithaldas has chosen to step down from his post at the end of the firm’s financial year in July, declaring the company’s transformation process complete.
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Vithaldas joined Azzurri to replace Mark Quartermaine in December 2011, with a brief to keep a steady hand on the wheel and guide the firm – which was burdened with high levels of debt and had run through a number of CEOs in a short space of time – back to profitable growth.
Having overseen the refinancing of the firm – a process that wrapped up last October – and paid down its debt from over £100m to around £25m, Vithaldas said that for family reasons the time had now come to step back.
Azzurri said it was now at an exciting point in its development as a managed comms services provider, and thanked Vithaldas for his major contribution towards achieving that position.
Chairman Steve Andrews said: “We are now well set to accelerate further Azzurri’s position in the market and will announce Vim’s successor to take this forward during the coming months.
“Vim has the Board’s full confidence to continue to drive the business forward with my support and achieve a successful transition to the new CEO.”