Finnish mobile operator DNA is searching for a new CEO after calling off a sale of the group last month to focus on growing the business.
Riitta Tiuraniemi had led DNA since 2009 and had racked up a total of 14 years with the operator.
Jukka Leinonen,…
Finnish mobile operator DNA is searching for a new CEO after calling off a sale of the group last month to focus on growing the business.
Riitta Tiuraniemi had led DNA since 2009 and had racked up a total of 14 years with the operator.
Jukka Leinonen, DNA’s vice president of corporate business, has been appointed as acting CEO while it aims to find a permanent replacement by the turn of the year.
Chairman Jarmo Leino, who is also CEO of DNA’s largest shareholder Finda Oy, said: “The telecommunications industry is undergoing a major disruption. The new CEO will need to have a very dynamic approach and a vision of where DNA’s new opportunities lie.
“I firmly believe that the innovativeness and solid knowhow of our staff will move our company forward in the right direction also under the helm of the future CEO.”
The company had received several offers from private equity before calling off its sales process. Apax, Bain Capital, EQT and Providence all placed final round bids in excess of €1bn.
Sources said DNA was also mulling an IPO before deciding to grow the business instead.
The company also announced today that it had completed its acquisition of terrestrial network pay-tv operator PlusTV, after receiving approvals from the Finnish Competition and Consumer Authority.
PlusTV serves around 220,000 households and in 2012 posted approximately €65m in revenues.
The deal will see DNA add 33 members of staff to its 1,500 strong workforce.