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Bill Barney has stepped down as the CEO of Reliance Communications. Barney will now focus entirely on the restructuring of Global Cloud Xchange (GCX), the Anil Ambani company's submarine cable subsidiary, which recently filed for bankruptcy protection.
Barney is currently the Chairman and CEO of GCX.
READ | GCX files for bankruptcy protection
Barney said in a statement: “With GCX’s recent voluntary Chapter 11 filing, it will be in the best interest of both RCom and GCX for me to step down at this time to focus on GCX restructuring. Upon emergence from this process, GCX expects to be well-positioned to aggressively pursue our business plan independent of the overhang caused by our corporate parent’s challenges."
“It has been an honor to be entrusted with the leadership of RCom over the past three years,” he added.
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