Zayo, a telecommunications company that operates globally, has announced plans to separate its business entities in order to provide more flexibility for each business unit to take advantage of unique growth opportunities and simplify operations. This separation will also help align strategic and business objectives to drive long-term value for Zayo, its customers, and the newly independent entities.
Zayo Europe, which operates a mostly owned fibre infrastructure network across eight Western European countries including Ireland, the UK, the Netherlands, Belgium, France, Germany, Italy and Switzerland will become an independent entity. The new business will have employee hubs in London, Paris, Stuttgart and Sofia. Colman Deegan who recently took on the role of CEO of Zayo Europe will lead this new entity.
While Zayo and Zayo Europe will remain under the same ownership group and continue to offer network services globally through their respective entities, they will have separate boards of directors. Jens Schulte-Bockum who served as CEO of Vodafone Germany and Group COO of MTN Group will serve as chairman of the new board once the separation is completed by end of June 2024.
Additionally, Zayo’s global network management needs outside North America and Europe will also be legally separated by this time. This new entity will have its own management team to continue supporting Zayo’s North American and European customers with international network expansions.