TalkTalk Founder and Chairman Dunstone Will Acquire Leadership from Harding

Technology - Pavan Pandey - Feb 01,2017

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talktalk founder and chairman charles dunstone will acquire leadership from harding

TalkTalk said that its founder Sir Charles Dunstone will become executive chairman after stepping down as chairman of Dixons Carphones in May.

According to the TalkTalk Telecom Group plc, founder and Chairman Charles Dunstone will take over the administration of the telecoms operator when its current chief executive officer, Dido Harding leaves the company in the month of May after a seven-year tenure.

TalkTalk also added that Baroness Harding will be replaced by company’s present managing director Tristia Harrison.

Dido Harding’s departure came as TalkTalk presented a 5% drop in profits and stated that it has lost a net 42000 broadband subscribers in its 3rd quarter, but retained its outlook for its full year incomes unchanged.

The UK-based TalkTalk, lately charged over a major hacking breach, also stated that its revenues fell in the last months of the year 2016.

The company was punished a record 400,000 pound in October for poor website safety which led to the stealing, making it the biggest ever fine levied by The Information Commissioner’s Office (ICO).

Sir Charles Dunstone, who formed TalkTalk in 2002, mentioned that Baronss Harding had helped transform the company into a greatly stronger business. He further added that he is so thrilled at the vision of spending more time on TalkTalk.

Sir Charles, the creator of Carphone Warehouse, will stay as a senior counselor to Dixons Carphone plc. He will be replaced as chairman by a former chief executive of BT, Lord Ian Livingston.

The group income fell 5% to $577 million (459 million pounds) in the quarter, with income on its own network down 5.4% to nearly $419 (332 million pounds). However, it stated that the consequence of the changes would be short-lived, and earnings for 2017 would towards the bottom of a 320 million pound to 360 million pound range.