Telia wasted no time in commencing the search for a new CEO after Johan Dennelind (pictured) tendered his resignation, though the European operator will have at least a year to recruit his successor.
In a statement, Telia said the board had immediately begun seeking a replacement, with the length of the process determining Dennelind’s precise departure date. The current CEO has a 12 month notice period, meaning he will not step down until sometime in 2020.
Dennelind posted a series of Tweets explaining he was privileged to have led the company through a period of “radical change” to deliver “world class” services to customers while “making positive impact on society and Sustainable Development Goals”.
“We are well down this road and journey and I feel time has come for me to move on”, he added.
Marie Ehrling, chair of Telia’s board, noted Dennelind had played a key role in the company’s transformation since his appointment as CEO in 2013. “We have had several difficult and tough situations to address, and the fact that Johan has always acted with strength and wisdom has been of great importance for the development of Telia.”
The lengthy notice period ensures “continuity and focus on several important projects and processes”, Ehrling added.
Dennelind’s announcement comes just over a fortnight after the company reported a 25 per cent year-on-year drop in net income during Q2 to SEK1.6 billion ($166 million), though over the first six months the figure was up substantially at SEK3.4 billion.
Among the most significant programmes overseen by the CEO were an exit from operations outside its core Nordic and Baltic markets, a merger with TDC Norway and the acquisition of Bonnier Broadcasting.Subscribe to our daily newsletter Back