Meteor to lose CEO post in shake-up
Published 06/03/2010 | 05:00
MOBILE operator Meteor will no longer have its own chief executive after its owner, Eircom, yesterday announced a group-wide organisational restructuring that cements the two brands under a single corporate umbrella.
Larry Smith, the US national who has been the Meteor chief executive for the past five years, will leave the group after a transition period and return to the United States. Under his tenure, Meteor has doubled its number of subscribers to about 1.1 million. Stephen Beynon, a former senior manager with Virgin Media who has been working on an independent consultancy basis with Eircom since last August, is formally joining the group as its group managing director of consumer and small business.
He also once held a senior management role at Australia-based mobile operator Optus, and with Cable & Wireless.
He will now be responsible for the running of Meteor, as well as Eircom's small business unit and its consumer and mobile arm which offers mobile broadband to consumers. Eircom, which is controlled by Singapore Technologies Telemedia (STT) since January, has also appointed Gerry Culligan as the managing director of the group's new transition unit.
It is understood that his role will include examining how staff whose functions that may have been absorbed by other units during the business reorganisation can be redeployed. However, it is believed his role remains to be fully defined.
Mr Culligan will also be responsible for Eircom's Phonewatch business, as well as its 11811 directory enquiry service. He was previously director of consumer market at Eircom. Eircom's chief executive Paul Donovan said the changes would enable the group to work more effectively "as one team".
"The regulatory, economic and competitive constraints affecting our revenue growth in both fixed (line) and mobile requires a new approach to how we structure our business as we address our cost base," he said. "In order for Eircom to thrive, it must simplify, improve its transparency and accountability and become a more agile and nimble organisation."
Eircom's group revenue declined 10pc to €465m in the quarter to the end of December and group adjusted earnings fell 5pc to €159m.