British fibre broadband network CityFibre’s founder and CEO, Greg Mesch, is set to resign for personal reasons.
Mesch, who has led the company since its founding in 2011, will be succeeded by Chief Operating Officer Simon Holden, News.Az reports, citing Reuters.
In July, CityFibre secured £2.26 billion ($3.05 billion) from shareholders and lenders to fund network expansion and acquire smaller competitors, challenging rivals BT and Virgin Media O2.
Backed by Antin Infrastructure Partners and Goldman Sachs, the company reported its first full-year profit earlier this year and plans to expand its wholesale network to more than 8 million premises. CityFibre has built Britain’s third-largest broadband network, supplying fibre connections to retail providers including Vodafone, TalkTalk, and Sky, its newest customer.
CityFibre did not immediately respond to Reuters’ request for comment.
