DeMartino, who oversaw MCI International's explosive growth, will assume the day-to-day duties of GlobeNet from present CEO and Chairman Mike Kedar, well-known telecommunications entrepreneur and visionary, who will concentrate his activities as chairman of the board of directors while continuing as a member of the management group.
Kedar founded GlobeNet with the establishment of a facilities-based international carrier and undersea cable company, TeleBermuda International Limited (TBI), which began operation in 1997. GlobeNet is expanding TBI's existing submarine cable network to link North and South America via Bermuda. With nearly $1 billion raised to build the 22,500-kilometer Atlantica-1 system, GlobeNet is poised to be one of the first independent wholesalers of bandwidth to tap into the anticipated rapid growth for fiber capacity in Latin America. The first leg of the 1.2 terabit self-healing ring will be ready for service next September.
DeMartino, with more than 26 years of experience in international telecommunications, assumes the leadership of GlobeNet effective October 1. He spent the first 10 years of his career with Western Union International, until it was acquired by MCI in 1983 and he became vice president for Europe. The following year he was appointed vice - more -
GlobeNet Taps DeMartino
president of international relations, where he engineered MCI's entrance into foreign markets and was responsible for management of MCI's relationships throughout the world.
In 1994 he was appointed president of MCI International, a $3 billion MCI subsidiary. He held that position until the company teamed with British Telecom to form its joint venture, Concert, at which point he was promoted to corporate senior vice president of global strategy and development. In that position he was responsible for MCI's international strategy, alliances and foreign acquisitions, including the largest acquisition in MCI history, Embratel, Brazil's national carrier, in 1998.
"GlobeNet is on the cutting edge of setting a new trend in the submarine cable industry," said Kedar. "With his MCI experience, Jerry is going to lead us in ushering in the private, independent business model. He has the credibility, experience and industry relationships to make GlobeNet the premiere supplier of submarine cable infrastructure."
"I am pleased and proud to be part of the GlobeNet entrepreneurial vision," DeMartino said. "The submarine cable industry holds the promise of transforming global markets and I am confident that GlobeNet will be an industry leader and innovator in this important industry. We have the vision, the financial resources and the leadership to change the way cables are built and bought. I look forward to working with Mike Kedar to build a totally new model for the international telecommunications industry."
GlobeNet Communications Group Limited is an independent developer of international fiber-optic cable facilities and a licensed international telecommunications carrier in Bermuda through its wholly owned subsidiary, TeleBermuda International Limited (TBI). Through TBI, it has been providing a full range of international telecommunications services in Bermuda since its establishment in 1997. GlobeNet, with headquarters in St. David's, Bermuda, has offices in Toronto and Montreal, and its common shares are traded on the Bermuda Stock Exchange (GLOCOM).