Reliance Globalcom lures Pacnet's Bill Barney to CEO post
Reliance Globalcom has begun a new chapter by naming Pacnet veteran Bill Barney as the CEO. He will oversee the company's three offshore businesses: FLAG, Yipes and Vanco.
A key area of expertise Barney brings to the table is his knowledge about how to grow revenue in the Asia market, having spent over 15 years in the region.
During his 10 years as CEO of Pacnet, Barney led the service provider's acquisition of regional ISP Pacific Internet, which was later merged with Asia Netcom and re-launched as Pacnet in January 2008.
Barney abruptly left Pacnet in May 2012 and the company did not provide information about his departure. At that time, a report in telecomasia.net suggested that his departure was related to a rumor that Indonesia's PT Telkom was launching a bid for Pacnet.
Before joining Pacnet, Barney was the Asia Pacific president and CEO for MCI WorldCom, now Verizon Business (NYSE: VZ), where he led the company through what at the time was a "three-digit growth phase."
Operating out of Hong Kong and Mumbai, Barney's appointment is effective immediately. Punit Garg, who held the president and CEO post at Reliance Globalcom, will be responsible for leading the service provider's Indian enterprise business.
Barney's appointment as CEO comes as the company has struggled to pay down over $7 billion in debt. A previous attempt to sell the Globalcom business last April to Batelco and a plan to launch an initial public offering (IPO) of its FLAG submarine cable unit were abandoned.
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