Hot on the heels of announcing a massive cash injection to add further energy to its broadband infrastructure business, CityFibre has revealed that founder and long-standing chief executive officer Greg Mesch is stepping down from his role to be replaced by current group chief operating officer Simon Holden.
CityFibre credits Mesch as having been the driving force behind its emergence as “the UK’s leading digital infrastructure challenger” and “transforming” the sector with “innovative products, competitive economics” and “exceptional” service to become a real competitor to market leaders Openreach and Virgin Media O2.
The network provider adds that after 15 years of Mesch at the helm, it has built a fibre platform that reaches over 4.5 million premises and serves almost 700,000 customers, as well as thousands of businesses and public sector sites. In addition to raising more than £8bn, Mesch has also seen CityFibre become a key delivery partner in the UK government’s digital agenda, in particular Project Gigabit.
Mesch will now act as vice-chairman of the company and commenting on the significant corporate shift, he described founding and leading CityFibre over the past 15 years had been “the privilege of a lifetime” and that he was incredibly proud of what his team has achieved.
“[City Fibre has unleashed] digital infrastructure competition to drive investment and innovation, and unlocking immeasurable benefits for consumers, businesses and the UK. We have overcome many challenges, and I can say with confidence that we have helped change the country for better, for ever,” he said.
“After 15 years at the helm, the company is in the strongest shape ever, and it’s the right moment for me to step back from day‑to‑day operations whilst continuing to support CityFibre’s long‑term direction as vice-chairman. Simon has been central to our success since he joined six years ago, and I have every confidence in his leadership. I look forward to backing him and our mission in my new role.”
Holden joined CityFibre in 2019 as group chief operating officer and board member, and he is seen as having been instrumental in shaping CityFibre’s strategy, overseeing its commercial affairs and helping to drive its financing efforts and roll outs.
He boasts more than 25 years’ experience in telecoms and infrastructure, and was a partner at Goldman Sachs where he held senior roles in the investment banking division including global chief operating officer, vice-chairman EMEA and global head of telecom investment banking.
“I’m honoured to step into the role of CEO and to build on the incredible progress the business has made. We have a winning strategy and I’m excited to lead the team on this next phase of our journey, scaling our reach, deepening customer relationships and ensuring we continue to operate the UK’s best network,” said Holden.
“CityFibre is the UK’s full-fibre challenger, a trusted, high-performance wholesale alternative that drives innovation, competition and long-term growth for the UK economy. But more than that, we’re here to create opportunity – enabling technologies like AI to reach every household, helping people, businesses and communities to do more, reach further and stay connected to what matters.”
Both Mesch and Holden begin their new roles effective immediately.
