OLAF Swantee’s first action after taking over as Everything Everywhere chief executive yesterday was to announce the resignation of the firm’s chief financial officer.
Former T-Mobile chief executive Richard Moat leaves after twice being overlooked for the top job: first when he was pipped by Tom Alexander after the merger with Orange last year, and again in the wake of Alexander’s shock departure in July.
Moat’s departure is part of a major management shake-up, in which the senior team has been slashed from 25 to just 10.
Swantee said: “When you merge two companies, typically in the first year or 18 months you have a broader leadership team. It is a natural evolution to move to a more simple, single-minded team.
“It is necessary and it is the right decision for the company.”
Marc Allera, the Three executive who announced he will leave the network operator at the end of the year, will join Everything Everywhere as chief sales officer.
Swantee said he plans to stick to the broad plan set out after the merger but will accelerate its implementation.
Swantee, the former European head of Orange, takes the chief executive role after being involved in the hiring of Alexander three years ago.
Board members of Orange owner France Telecom and T-Mobile owner Deutsche Telekom are understood to have instigated the sweeping changes after becoming concerned about the progress Everything Everywhere has made towards hitting tough profit margin targets.
Swantee will now begin a review of Everything Everywhere, which analysts speculate could result in more casualties.