City Fibre, the ultrafast broadband network which is competing to become the biggest UK rival to BT, is said to be gearing up to announce the former chief executive of National Grid as its new chairman.
Steve Holliday, who was well-thought-of by investors while at the helm of the energy infrastructure firm, has reportedly agreed to take the top job.
Holliday’s appointment as chairman would strengthen City Fibre’s expansion plans as it presses on with an investment programme worth £2.5bn. Sky News reports the announcement will be made tomorrow.
City Fibre is owned by West Street Infrastructure Partners, which is backed by Goldman Sachs, and Antin Infrastructure Partners. It has committed to providing a new generation of wholesale full-fibre broadband to more than 5m homes and businesses over the next six years.
Boris Johnson promised Britain would have comprehensive fast broadband across the nation by the same deadline when he became Prime Minister.
Holliday left National Grid in 2016, and has since served on the board of the Department of the Environment, Food and Rural Affairs (DEFRA), chaired homelessness charity Crisis and directed Business in the Community.
A source told Sky News his appointment was part of “a general upgrade” of City Fibre’s management, after Simon Holden, a former Goldman Sachs partner, was appointed chief operating officer.
City Fibre was not immediately available for comment.