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Phil Bentley
CEO, Cable & Wireless Communications
Age:
Years as a CEO:
Tenure: 0
Industry: Software & Technology
CEO DOSSIER
On 1 Jan 2014, Phil takes over as CEO from Tony Rice. Will the first-time CEO ensure success for a changing telecommunications business with an evolving operational and geographical focus?
early years
Phil was born in 1959, and grew up in Yorkshire. He attended Oxford University’s Pembroke College, attaining a Master’s degree in economics. Later, he also achieved an MBA from business school INSEAD’s Fontainebleau, France campus.
Phil began his career in when he joined British Petroleum in 1982. By 1992, he had become a member of BP’s corporate team, where he stayed for five years. In 1997 he left to join international drinks producer Diageo. At Diageo, Phil originally took the post of the company’s group treasurer and director of risk management. For the last year of his three-year term with the group, he was appointed finance director of its recently-merged United Distillers & Vintners (UDV) and Guinness divisions.
Phil left Diageo in the year 2000, becoming part of Centrica, the utilities firm which supplies electricity under the British Gas and Scottish Gas brands. Phil was finance director for Centrica until 2007, but in the meantime also took on the role of managing director of British Gas Europe between 2004 and 2006. In 2007, Phil gave up both jobs, having been promoted to the role of managing director of the entire British Gas business.
In his time as managing director, the company’s annual profit improved from approximately £300 million to approximately £1.1 billion. The company came under fire politically and in the media, however, for reaping such financial rewards from a British housing energy market which was increasingly costly for consumers. In an interview with Accountancy Age, Phil defended the rise in product costs amidst the company’s financial success, and denied that the two factors were causally related. He cited the rising cost of wholesale fuel as an explanation for changes in energy prices, and said:
“Our profits have gone up, not because we’re ripping people off, but because we’ve sold more gas, cut our costs and gained about half a million new customers. We wouldn’t be building our customer base if we weren’t competitive.”
Phil left Centrica and its British Gas division on the 30 June, 2013, with it not looking like there was an opportunity in the company in a CEO role.
As ceo
On the 17 October, 2013, Cable & Wireless Communications issued a press release announcing that Phil had been chosen as the company’s next CEO. He is scheduled to take over the reigns of the company from previous CEO Tony Rice on the 1 January, 2014. Chairman Sir Richard Lapthorne expressed his satisfaction with Phil’s appointment to the role, stating:
“I am delighted to have attracted someone of Phil Bentley’s calibre to lead the company. Phil demonstrated his leadership skills at British Gas, combining strong operational capability with a real focus on customer value – experience which he will bring to CWC as we focus our business on a single region, and drive greater operational improvements.”
Based in London, England and floated on the London Stock Exchange, Cable & Wireless Communication is a telecommunications firm which operates chiefly in Central America. Phil takes control of the business during a period of transition: between 2012 and 2013, CWC offloaded its operational interests in Macau to run a more streamlined business model and focus in a single geographical region. Specifically, the firm now mainly operates in and around Panama and the Caribbean – what CWC calls its Pan-American region. Explaining the renewed focus on the area, Richard Lapthorne wrote in the company’s annual statement to investors that:
“In the pan-America region demand for the mobile and fixed data services we provide is growing. Our business posted a 34% increase in mobile data service revenues in 2012/13 and the penetration of data services in the region is still below developed markets such as the US and Europe.”
Key to Phil’s success at CWC will be how well the company exploits this opportunity for sales growth under his leadership.
Certainly, investors in the company have thus far greeted the announcement of Phil’s appointment with much the same optimism as CWC itself has. The company’s stock price suffered a small drop in the hours following his reveal as future CEO, but has since recovered: in the month up to and including the 25 October, 2013, CWC’s stock has risen from 39.54p to 44.81p. At the close of the 17 of October – the day of the announcement – shares stood at 41.93p.
Away from work
Phil is married with two children. He has spent time as a non-executive director at Kingfisher PLC, a multinational home improvement retailer, and IMI PLC, a UK-based engineering company.
Our Three Questions
(1) How will your time spent on the finance side of a company affect how you work as a CEO?
(2)What more can Cable & Wireless Communication do to capitalize on its favourable market position in Central America?
(3) Is the telecommunications industry one that you’ve been interested in becoming a part of for some time?
Date Written
25-10-2013Sources
Accountancy Age
Bloomberg
Cable & Wireless Communications
Centrica
Financial Times
INSEAD
Marketing Week
The Telegraph
Yahoo! Finance
Accountancy Age
Bloomberg
Cable & Wireless Communications
Centrica
Financial Times
INSEAD
Marketing Week
The Telegraph
Yahoo! Finance
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Latest News
Cable & Wireless boss focused on Central American and Caribbean expansion
Phil Bentley, the chief executive of Cable & Wireless Communications, doesn’t miss Britain. The weather in Miami, where the company is now based, and on Caribbean islands such as Barbados, St Lucia and the Bahamas, where it operates broadband and mobile ... read more...
2015-05-24 00:27:14
Cable & Wireless boss focused on expansion in Central America and the Caribbean
having radically reshaped the business Phil Bentley, the chief executive of Cable & Wireless Communications (LSE CWC.L - news) , doesn’t miss Britain. The weather in Miami, where the company is now based, and on Caribbean islands such as Barbados ... read more...
2015-05-23 18:15:00
Cable & Wireless boss focused on expansion in Central America and the Caribbean
having radically reshaped the business Phil Bentley, the chief executive of Cable & Wireless Communications (LSE CWC.L - news) , doesn’t miss Britain. The weather in Miami, where the company is now based, and on Caribbean islands such as Barbados ... read more...
2015-05-23 18:15:00
Jamaicans accept FLOW price increases — CWC executive
JAMAICANS are accepting the price increases at large cable provider FLOW, according to John Reid, an executive at the provider's new parent company Cable & Wireless Communications ... market CWC chief executive Phil Bentley told shareholders that its ... read more...
2015-05-22 00:58:14
Cable and Wireless loses $$ from TSTT
Cable & Wireless Communications' revenue from its 49 per cent stake ... Commenting on the group's results, Phil Bentley, chief executive of CWC said "This is a transaction that transforms CWC, and is one that will accelerate the delivery of our strategy ... read more...
2015-05-21 23:32:20
Cable and Wireless loses $$ from TSTT
Cable & Wireless Communications' revenue from its 49 per cent stake ... Commenting on the group's results, Phil Bentley, chief executive of CWC said "This is a transaction that transforms CWC, and is one that will accelerate the delivery of our strategy ... read more...
2015-05-21 23:32:20
Btc Owner Dismisses Cable’S Mobile Threat
Phil Bentley, Cable & Wireless Communications (CWC) chief executive, effectively confirmed that it viewed Digicel as posing the greatest challenge to BTC out of the three bidders who applied for the Bahamas’ second cellular licence. Responding to analyst ... read more...
2015-05-21 21:09:10
Cwc Btc ‘Lags’ Region Despite $75m Investment
Phil Bentley, Cable & Wireless Communications (CWC) chief executive, told investment analysts that it was “racing” to get BTC’s network ready before the Government ended its mobile monopoly. CWC, in presenting its results for the 12 months to end ... read more...
2015-05-21 00:59:25
Cable & Wireless in new territory after Columbus deal
Profits and sales at Cable & Wireless Communications have risen for the first time ... on to its share registry. Phil Bentley, CWC’s chief executive, said it was the business’s read more...
2015-05-21 00:59:25
Cable & Wireless reports growth in revenues after ‘transformation’
Cable & Wireless Communications has reported the first growth in ... of confidence in the free cash flow-generating capability of the enlarged entity”. Phil Bentley, chief executive, said that the last year had been one of “transformation and growth ... read more...
2015-05-20 18:47:11
Cable & Wireless annual profit rises
Telecoms service provider Cable & Wireless Communications said it was still some way ... to uncover the full potential of our business,” said group chief executive Phil Bentley. “CWC is on the way to becoming a better company – a genuine quad play ... read more...
2015-05-20 12:20:38
Cable & Wireless annual profit rises
Telecoms service provider Cable & Wireless Communications said it was still some way ... to uncover the full potential of our business," said group chief executive Phil Bentley. "CWC is on the way to becoming a better company - a genuine quad play operator ... read more...
2015-05-20 11:01:54
CWC earnings up
Cable & Wireless Communications' group revenues rose to US$1.8bn in the year to the end of March - up 4% on last time and reflecting strategic progress. Group EBITDA rose by 7% to US$585m and margins increased by 1 ppt to 33%. Chief executive Phil Bentley ... read more...
2015-05-20 08:02:56
CWC earnings up
Cable & Wireless Communications' group revenues rose to US$1.8bn in the year to the end of March - up 4% on last time and reflecting strategic progress. Group EBITDA rose by 7% to US$585m and margins increased by 1 ppt to 33%. Chief executive Phil Bentley ... read more...
2015-05-20 08:02:56
CWC earnings up
Chief executive Phil Bentley said "2014 was a year of transformation and growth for Cable & Wireless Communications (CWC). We created a new senior executive team operating out of our new Miami hub. "We developed a new vision and strategy for the Group ... read more...
2015-05-20 07:41:28
Cable & Wireless FY15 Pre-tax Loss Narrows, Net Drops; Stock Down
Shares of Cable & Wireless Communications Plc. (CWC.L ... In addition, the company expects to benefit from the acquisition of Columbus. Chief Executive Phil Bentley said, "We see good long-term growth prospects across Consumer, Business Solutions, and ... read more...
2015-05-20 05:11:09
Curacao C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand
Curacao C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand / Curacao Chronicle / MIAMI" Following the completion of the merger of Cable & Wireless Communications ... Sonitel brands. Phil Bentley , CEO of C&W ... read more...
2015-05-12 14:53:18
Curacao C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand
Curacao C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand / Curacao Chronicle / MIAMI" Following the completion of the merger of Cable & Wireless Communications ... Sonitel brands. Phil Bentley , CEO of C&W ... read more...
2015-05-12 14:53:18
C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand
MIAMI – Following the completion of the merger of Cable & Wireless Communications (CWC ... where necessary regulatory approvals have been obtained. Phil Bentley, CEO of C&W Communications said, “This is the beginning of a new and exciting chapter ... read more...
2015-05-12 14:10:21
C&W Communications announces new brands Flow to be the Unified Caribbean Consumer Brand
MIAMI – Following the completion of the merger of Cable & Wireless Communications (CWC ... where necessary regulatory approvals have been obtained. Phil Bentley, CEO of C&W Communications said, “This is the beginning of a new and exciting chapter ... read more...
2015-05-12 14:10:21
BTC line staff union threatens industrial action
said yesterday it is prepared to take industrial and legal action if Cable & Wireless Communications (CWC) CEO Philip Bentley does not intervene within a week to resolve stalled negotiations with the Bahamas Telecommunications Company (BTC) over a new ... read more...
2015-05-09 17:34:20
C&W unveils new brand strategy after Colombus buy
UK-based Cable & Wireless Communications (CWC) has announced a major revamp ... service and product innovation under the refreshed Flow brand," said CWC CEO Phil Bentley in a statement, adding in reference to Flow’s distinctive blue colour that "we ... read more...
2015-05-08 08:45:48
C&W to adopt Flow brand for consumer arm
Cable & Wireless Communications (CWC ... defining new levels of customer service and product innovation under the refreshed Flow brand," said Phil Bentley, CEO of CWC, in a statement on Wednesday. "Flow, with its bold blue colour, captures the essence ... read more...
2015-05-07 15:06:23
C&W to adopt Flow brand for consumer arm
Cable & Wireless Communications (CWC) has announced plans to rebrand its ... of customer service and product innovation under the refreshed Flow brand," said Phil Bentley, CEO of CWC, in a statement on Wednesday. "Flow, with its bold blue colour, captures ... read more...
2015-05-07 00:54:33
C&W Communications Announces New Brands Flow to Be the Unified Caribbean Consumer Brand
Bentley concluded "We are committed to creating a combined group with a new culture of innovation and technical excellence -- backed by major investments -- putting our customers at the heart of our business." About Cable & Wireless Communications ... read more...
2015-05-06 17:59:22
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Financials
Business summary
Employees: 7,761
Cable & Wireless Communications Plc, together with its subsidiaries, engages in the provision of telecommunications services for consumers, small and medium-sized enterprises, corporate customers, and governments. It offers mobile data services; high speed broadband services to homes and workplaces; fixed line voice telephony services; entertainment services, including pay-TV, cablebased pay-TV, IPTV, and mobile TV services; data centers and hosting services; and manages, installs, and operates telecommunications services, as well as sells equipment, including handsets. The company provides its services to approximately 11.8 million mobile, 667,000 broadband, and 1.7 million fixed line customers in the Caribbean, Panama, Macau, and Monaco and Islands. Cable & Wireless Communications Plc is headquartered in London, the United Kingdom.
Data supplied by Yahoo! Finance.
Click here for more detailed financial information on Cable & Wireless Communications from Yahoo!
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