Wind Mobile’s founder, Tony Lacavera, is leaving the company. Lacavera has transferred his shares to Orascom, which will own an indirect 99.3% interest in Globalive Wireless Management Corp, the parent company of Wind.
The Toronto-based entrepreneur plans to launch a new initiative called Globalive Capital this year. He will remain Wind Mobile’s CEO until closing and will continue in a non-operational capacity as the company’s Honorary Chair.
“As an entrepreneur, my vision was to ignite change across the wireless landscape in Canada, bringing more competition, better prices and superior service to Canadians,” explained Lacavera. “And that is exactly what we did. Now that I am confident Wind Mobile Canada is on a course for long-term success, I can focus on launching Globalive Capital to make targeted investments in companies that share my entrepreneurial vision and continue to support innovation through new and emerging entrepreneurs.”
Wind Mobile, founded in 2008, now serves 600,000 subscribers across the greater areas of Toronto, Vancouver, Calgary, Edmonton, and Ottawa.
“Anthony Lacavera has been the face and the voice of Wind Mobile Canada,“ said Ahmed Abou Doma, Chief Executive Officer of Orascom. “I wish to pay tribute to his leadership in making Wind Mobile the official alternative to the ‘Big Three’ incumbents in Canada.”
While the introduction of Lacavera’s fund should prove welcome in Canada, some believe that this move is a bad one. Jamie Sturgeon wrote in the Financial Post that the executive’s departure leaves “serious doubts that a class of new wireless entrants Ottawa expressly shepherded to market a few years ago will ever have the intended outcome of introducing meaningful and lasting competition in a wireless market still overwhelmingly ruled by Rogers Communications Inc., BCE Inc. and Telus Corp.”