Colt Technology Services has tapped Carl Grivner as its newest Chief Executive Officer (CEO), whose tenure will take effect only at the start of the New Year on January 1, 2016, according to a Colt statement.

Mr. Grivner had originally joined Colt a few months prior in May 2015 and currently serves as its Executive Vice President of Network Services. His ascension was necessitated by the recent announcement of Colt’s CEO, Rakesh Bhasin, that he is relinquishing the role after nine years as of December 31, 2015. A transition process will formally take place at the end of the 2015-year, whereby Mr. Rakesh will be returning to Fidelity and helping to assist Colt in an advisory role.

Prior to joining Colt this past May, Mr. Grivner worked as the CEO of communications service provider, Pacnet. Additionally, he also worked in a similar role as the CEO of XO Communications for over eight years.

According to Simon Haslam, Colt’s Chairman, in a recent statement on the transition and subsequent appointment, “During his stewardship as our CEO, Rakesh has played a key role in reshaping the organisation, developing strong foundations and defining a new strategy. We would like to thank him for his significant contribution and hard work over the years. Colt will continue to benefit from his legacy and I am pleased that Colt will continue to benefit from his advice and guidance as we move forward.”

“We are delighted to welcome Carl as the new CEO. Colt has a unique set of network and data centre assets, spanning the globe with a clear vision to be the most customer orientated business in the industry. With this solid foundation and Carl’s wealth of experience, including extensive executive and leadership experience in the telecommunications and technology industry, Colt is well positioned for long-term success.”