Former Aqua Comms CEO Jim Fagan. Image: Jim Fagan
Fagan has been confirmed as the new CEO of EXA Infrastructure, while Aqua Comms has appointed Andy Hudson as its acting CEO.
Dublin-based subsea cable provider Aqua Comms has had a sudden change in management, as its CEO Jim Fagan has departed with immediate effect.
The reason for Fagan’s sudden departure has not been stated, but it was also announced today (21 February) that he has been appointed as the CEO of EXA Infrastructure, a digital infrastructure company that also provides subsea cables and has an office in Dublin.
Fagan will be taking up the new position on 1 August but has left Aqua Comms with immediate effect after serving as CEO for less than a year. Fagan joined Aqua Comms in May 2023, replacing Nigel Bayliff who led the company for more than six years.
Fagan has experience leading companies of various sizes, with previous management roles in Global Cloud Xchange, Telstra, Pacnet and Rackspace.
“EXA Infrastructure is recognised in the industry for its unique footprint of owned network assets and a skilled team that specialise in digital infrastructure,” Fagan said. “I am excited to join at this pivotal moment, where the data growth demand driven from AI will need to be met by secure and resilient players like EXA.”
Aqua Comms said that its chief network officer Andy Hudson is now the acting CEO, while chair Alan Harper will provide commercial and strategic assistance to the business for the remainder of 2024.
“Aqua Comms would like to thank Jim Fagan for the excellent work he has done in creating a healthy and growing business since joining in 2023, we wish him the best of luck in his future endeavors,” Harper said. “Aqua Comms continues to be in a strong position in the market and are optimistic about the future of the business.”
Aqua Comms was founded in 2014 and is the owner and operator of the AEC-1 network, which connects New York, Dublin and London via a low-latency fibre-optic network. It was acquired by Digital 9 Infrastructure in 2021 at a valuation of $215m.
Earlier this month, Aqua Comms announced a long-term lease agreement for a transatlantic subsea spectrum with Energy Sciences Network (ESnet), the US Department of Energy’s dedicated science network. The deal will provide ESnet with a 5Tbps data pipe to accommodate rapid increases in data traffic from science collaborations across the Atlantic.
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