Rajeev Suri has been named Chairman Designate of Digicel Group, the major digital provider in 25 markets in the Caribbean and Central America.
Suri will succeed Denis O’Brien after the previously announced Restructuring Services Agreement [RSA] is implemented. According to a Digicel press release dated November 29, O’Brien will continue to serve on the Board and remain a shareholder in the company.
Following the implementation of the RSA, the Digicel shareholder consortium led by PGIM, Contrarian Capital Management, and GoldenTree Asset Management will seize control of the company. Suri will be located in London.
In a joint statement, the incoming Digicel owners stated, “Rajeev has a proven track record of transformative delivery, and with a strengthened balance sheet, we see considerable potential to grow value and profitability at Digicel.”
Denis O’Brien, Digicel’s Founder, commented: “I am delighted to welcome Rajeev as Chairman Designate.” Given his remarkable track record of delivery over the last 35 years, I am certain that he will both enhance and generate value for all of our stakeholders. He joins the outstanding local teams with whom I have had the pleasure of working for over 25 years in the Caribbean and Central America. He is the appropriate leader to guide Digicel through its next phase of expansion.”
“I want to thank Gregory Cass, Principal, PGIM, Pat Dyson, Partner, GoldenTree Asset Management, Xiao Song, Managing Director, Contrarian Capital Management, Denis O’ Brien, Digicel’s Founder, and all the shareholders of Digicel for welcoming me into the company,” said Rajeev Suri, Chairman Designate. Denis has established a terrific firm that is a market leader in the markets it services. I’m excited to get on the road and meet our customers and workers, as well as to continue to improve the company’s board and leadership team as we move forward in this next chapter.”
Suri has been in the telecommunications sector for around 35 years, most recently serving as CEO of Inmarsat from March 2021 until its sale by Viasat in May 2023. He joined Inmarsat from Nokia, where he was President and Chief Executive Officer from 2014 to 2020, after serving as CEO of Nokia Siemens Networks since 2009. He was a United Nations Broadband Commission Commissioner and the Chair of the Global Satellite Operators Association (GSOA).
He generated record financial performance as CEO of Inmarsat, a global mobile satellite communications services provider, and a successful exit for the company’s private equity and pension fund shareholders.
Rajeev took a business valued at roughly €1 billion and grown it to more than €25 billion while at Nokia and Nokia Siemens Networks, creating one of the top two global leaders in telecoms network infrastructure. He also led the sector’s consolidation, which improved the company’s and the industry’s health.
Suri previously served as co-chair of the B20’s digitalisation task group, as well as a member of multiple World Economic Forum digital and healthcare committees, and is a past recipient of China’s coveted Marco Polo award. Suri currently sits on the boards of Stryker Corporation, Viasat, and Singtel. He has a bachelor’s degree in electronics and communications as well as an honorary doctorate from Manipal University.
