Ronan Dunne is set to step down as CEO of O2 UK after more than eight years at the helm, as the operator moves on from its failed merger attempt with 3 UK.
In a statement, Telefonica said that the news “follows the successful completion of a strategic review of options for the UK business, which led to Telefonica’s confirmation that Telefonica UK will be reconsolidated within the Telefonica group”.
Dunne (pictured, left) said: “The decision to reconsolidate Telefonica UK represents an important and positive milestone for the business and marks the beginning of an exciting new chapter for O2”.
The executive was previously linked with a buyout of O2 UK, after the merger with CK Hutchison’s UK unit was kyboshed by European regulators. Dunne was also set to stand down if this went through.
Dunne’s role will be taken by Mark Evans, CFO of O2 UK, as of 1 August 2016 (Dunne will “continue to support the business with its strategic ambitions until September 2016”).
The finance chief joined O2 in January 2012, and has “achieved sustained financial performance and industry-leading customer retention for the company, despite challenging market conditions”. He previously held positions with Vodafone Group and NTL.
“O2 has a track record in redefining itself to keep pace with technology change and customer demand, and has an enormous amount to offer within the evolving telecoms market,” Evans said.
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