LIME yesterday announced that chief executive officer David Shaw will resign after four years leading the company.

Shaw will remain with the business for the next six months to facilitate a handover of responsibilities, the company said. He will be replaced by Tony Rice, chief executive of LIME's parent company, Cable & Wireless Communications (CWC).

LIME is CWC's Caribbean business. CWC recently announced its intention to focus its business on the Caribbean and Central American region, after agreeing to sell its Macau and Monaco & Islands operations.

Shaw said yesterday that the comapny has accomplished many objectives during his time running the business.

"As a team, we have achieved a great deal during the past four years. Our business is fighting back in Jamaica; in The Bahamas we are well positioned to face up to competition when it comes; and we are competing strongly in our other markets. The business is more focused than ever on delivering for our customers. Being a part of LIME has been an incredible experience and I look forward to seeing the business continue to fulfil its potential being the driving force in connecting the Caribbean," said Shaw.

Rice will work with LIME's regional business leadership team, which includes chief commercial officer Chris Dehring and CEO for Jamaica & the Cayman Islands, Garry Sinclair.

Rice, in tribute to Shaw, said he managed CWC's Caribbean business through a period of "unparalleled and prolonged economic challenges for the region and difficult market conditions.

"During that period he has done a sterling job to strengthen our business and delivered critical transformational initiatives. Given the importance and challenges of the Caribbean market to CWC, I am taking direct leadership of the LIME business for a period of time, to understand better and pursue the opportunities for investment, which will improve the services we provide to customers as well as our cost-efficiency and competitiveness," said Rice.