Ennes Named CFO for OpenCape Corporation

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OpenCape Corporation, the nonprofit organization that owns and operates the 100 percent fiber optic network on the Cape, Islands and Southeastern Massachusetts, has hired Eric Ennes as Chief Financial Officer.

Ennes served for more than a decade as Managing Director and Global Controller for Barings, LLC, where he ran all accounting operations including internal reporting, group consolidations, tax and policy, for more than 100 domestic and foreign subsidiaries, while also leading a myriad of other financial stewardship initiatives for a multinational organization. Additionally, Ennes serves on the board of the American Red Cross Southeastern Massachusetts Region.

“Since being awarded initial seed funding via a Broadband Technology Opportunities Program (BTOP) grant in 2010, OpenCape has experienced steady year-over-year growth. We have expanded to become a fully self-sustaining and thriving nonprofit business with hundreds of customers, including over 92 percent of Cape businesses with over 200 employees,” said OpenCape Chief Executive Officer and Executive Director Steve Johnston.

Johnston said the logical next step was to bring in a Chief Financial Officer with experience in successful process building as the organization continues to scale its business operations.

“Eric brings considerable financial knowledge to OpenCape. We are thrilled to gain the expert perspective of someone who has developed, implemented, and managed accounting practices for large organizations like Barings and Fidelity,” said Johnston, adding that OpenCape is preparing for exponential growth.

“My intention is to lead OpenCape’s efforts focused on developing business strategies and implementing financial processes and controls to meet the challenges of organic growth and new business opportunities,” said Ennes. “OpenCape’s balance sheet and their track record of growth is impressive and their operating cash flow is strong. The organization is well- positioned for the kind of network growth that Steve and his team of engineers envision. I’m looking forward to joining the team now as they take these exciting steps forward.”