CMC Networks (CMC) announced that Grant Walker, the Founder and Chairman of the company, is stepping down as Chairman, effective immediately. The company will announce the new Chairman next week.

Since the acquisition by The Carlyle Group of CMC early last year, the company has embarked on a number of changes aimed at strengthening CMC’s ability to better serve its clients and broadening its service offer. As a result, the business is in good shape and poised for growth, ensuring a smooth transition. Mr Walker will remain a considerable shareholder and Non-Executive Director for CMC. The company will announce the new Chairman next week.

“I have taken great pride in building and seeing this business grow over the last 30 years and I am very pleased to have worked with Carlyle and the management team so I can step down as Chairman with the comfort of a successful transition,” said Mr. Walker. “I would like to thank the management team and all staff members whose efforts over many years made the company what it is today. I enjoyed the journey and CMC will always have my full support.”                                                                                                                                                           

Please visit www.cmcnetworks.net for more information, and stay tuned for a follow up announcement next week.