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Nordic telecoms group Telia's CEO to stand down

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Nordic telecoms group Telia's CEO to stand down
FILE PHOTO: Telia Company's CEO Johan Dennelind attends a press conference at the the company's headquarters in Stockholm, Sweden, September 22, 2017. TT News Agency/Janerik Henriksson via REUTERS   -   Copyright  TT NEWS AGENCY(Reuters)
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STOCKHOLM (Reuters) – Telia <TELIA.ST> Chief Executive Johan Dennelind has handed in his resignation and will leave the company in 2020, having transformed the Nordic telecoms group’s strategy since taking the helm in 2013.

A rival to Sweden’s Tele2 <TEL2b.ST> and Norway’s Telenor <TEL.OL>, Telia has retreated from central Asian markets to focus on its seven Nordic and Baltic markets, where it is seeking new ways to grow.

Board Chairwoman Marie Ehrling said Dennelind’s leadership had been crucial and that she and the board regretted his decision to step down.

Dennelind will continue in his position for the time being, Telia said in a statement, adding that the exact time of his departure depends on the recruitment of a successor. The search for a new CEO will begin immediately, it said.

Telia’s ongoing overhaul includes its planned takeover of television group Bonnier Broadcasting, with the deal currently being investigated by EU antitrust regulators.

“I will continue in my role to drive our current agenda forward with full focus and commitment for as long as the board wants,” Dennelind said in the statement.

(Reporting by Anna Ringstrom; Editing by David Goodman)

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