KPN executive Huib Costermans has been recruited by Eircom to fill its CFO vacancy.
Eircom’s previous finance chief Richard Moat became the Irish incumbent’s CEO last year.
Costermans has spent the last seven years with KPN, where he has been CFO…
KPN executive Huib Costermans has been recruited by Eircom to fill its CFO vacancy.
Eircom’s previous finance chief Richard Moat became the Irish incumbent’s CEO last year.
Costermans has spent the last seven years with KPN, where he has been CFO of its wholesale and operations functions, CFO of E-Plus in Germany, and CFO of its Dutch operations.
Eircom describes its new hire as “an experienced telecommunications executive with deep operational finance knowledge”. Prior to his time at KPN, Costermans worked at Dutch pharmaceutical group Organon for 16 years.
Eircom has also appointed Erik Slooten as chief information officer. He joins from T-Mobile Czech Republic, where he was regional vice president for processes and systems. Slooten has also been CIO of GTS, also in the Czech Republic, and CIO at Vivacom in Bulgaria.
Moat said both Costermans and Slooten, who will join Eircom in August, “bring significant industry experience and commercial acumen to help us execute on our strategic and operational plans for the business.”
Elsewhere, the Irish operator has revealed it is looking to achieve more favourable terms for some of its debt.
Moat said: “Due to favourable capital market conditions and the strong operating performance of the business, we recently launched a process to amend and extend the terms of Eircom’s senior loan facilities.
“The main objectives of the process are to extend the maturity of the debt and to amend certain conditions to allow greater strategic and operational flexibility, whilst also aligning loan documentation to current market standards.”
Moat noted that in April Fitch upgraded Eircom’s issuer default rating from B- to B with a stable outlook. The upgrade was based on the agency’s opinion that the group has delivered on plans to transform the company’s business profile.
