One of the top names at insurance firm Hiscox has secured one of the most important positions in the telecoms industry.
Mark Evans, a non-executive director at the Bermuda-based insurer which has been underwriting for the Lloyd’s market since 1901, has been named as the chief executive of O2.
Evans, who was previously the chief financial officer at the telecoms firm, will replace Ronan Dunne who had run the company since 2008 but announced his plans to step down in September last year.
The appointment of Evans comes after a takeover bid from 3 was blocked by competition regulators. Mr Dunne had also considered an £8.5 billion management buyout in an effort to replace the bid from 3’s owner, according to reports in The Daily Telegraph
. He had reportedly been approached by several private equity firms and the bid could have brought together some of the biggest names in the industry including Tom Alexander, formerly the chief of Orange.
However, that deal was rejected by the Spanish parent company of O2, Telefonica, and now Evans has been appointed as the new boss for its British operations.
Speaking about his appointment he pointed to the potential of the brand.
“I am hugely excited by the opportunity to lead O2 through its next chapter. 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,” said the new chief executive.
“I’m very much looking forward to maintaining the momentum in the business and striving to make our customers the most satisfied in the UK, long into the future.”
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