James Fitzgerald, chief executive of Bermuda long distance provider TeleBermuda International will retire at the end of May, the company has announced, saying the company's search for a replacement CEO will be overseen by a three-person transition team.

James Fitzgerald, CEO and president of TBI, is retiring from the telecommunications industry after a career spanning 40 years, the last eight with TBI, Philip Brazeau, secretary of the board told The Royal Gazette.

During his tenure, Mr. Fitzgerald built up TBI's presence in Bermuda and successfully duplicated the model in the Cayman Islands, TBI director Jeff Conyers said.

"Under his leadership, James has established and guided the TBI organisation into becoming a major player in Bermuda's telecommunications sector," said Gregory Swan, newly appointed executive vice president and chief operating officer.

Mr. Swan, a former Telecommunications Ministry Director, will lead the transition team that includes Mr. Brazeau and Isabel Lawson. Mr. Brazeau said the company will eventually appoint a new chief executive. "We have the luxury of time," he said, with Mr. Fitzgerald's retirement more than three months away.