EE today announced Olaf Swantee will be stepping down as CEO “shortly after the final completion of the proposed deal for BT to acquire EE”.
Swantee, who has held the post since 2011, is set to be replaced by EE’s current chief commercial officer Marc Allera, who has been with the company for more than four years. He will assume the position once the BT deal is concluded.
The leadership change is a further sign of confidence that BT’s proposed £12.5 billion acquisition of the UK’s largest operator will indeed be given the thumbs up by regulators.
The deal is currently undergoing regulatory approval processes from the Competition and Markets Authority (CMA), and was given provisional approval in October.
In a statement, outgoing boss Swantee said: “As we approach the imminent completion of the deal with BT and the start of an exciting new chapter for EE, I’ve taken the enormously difficult decision to step down from my role as CEO, and pursue new opportunities.”
“I am immensely proud of the past four and a half years, creating, launching and growing EE to the exciting business it is today,” he added.
A final verdict on the BT deal by CMA is expected in the early part of this year, and could even be approved later this month, according to reports.