RAOUL FONTANEZ this week resigned as CEO of Digicel Group with immediate effect.
New acting Group CEO Colm Deves, while describing Raoul's news as unexpected, said Raoul was "keen to pursue other business interests in the Dominican Republic."
Mr. Delves joined the company as Group Chief Financial officer in May 2004, and will serve as acting CEO for Digicel Group until the announcement of a replacement, which is expected shortly.
Mr Fontanez joined Digicel in August 2004 from Orange Telecom in the Dominican Republic to head up the Caribbean group of companies, after having lived there for over five years. He is a former French army officer.
He told the Financial Gleaner that he was moving back to the Dominican Republic to be an entrepreneur, having been inspired in this regard by his brief association with leading Irish entrepreneur and founder of the Digicel Group Denis O'Brien.
He said the Dominican Republic represents a "ground floor" entrepreneurial opportunity, as the economy emerges from their own financial crisis, and he and his family want to live and settle there.
He said he leaves Jamaica with some regrets as during his stay in Jamaica everybody had been "extremely pleasant" despite Jamaica's mixed reputation.
Denis O'Brien, chairman of Digicel, said "Raoul Fontanez played a most important role in the expansion of the company. On behalf of the board I wish him every success in his business career."
