Zayo Group has announced plans to create two separate business entities – one for its European operations and another that will manage customer networking needs outside of North America and Europe.
Zayo Europe will be headed up by recently appointed CEO Colman Deegan, and will maintain employee hubs in London, Paris, Stuttgart, and Sofia.
Zayo and Zayo Europe will remain under the same ownership group and provide network services globally.
“The transition of our European business into an independent entity marks a pivotal moment in Zayo Group’s strategic journey as we look to maximise our potential across the continent,” said Steve Smith, CEO at Zayo.
“Under the experienced leadership of Colman Deegan, our shared owners will continue to invest in Zayo Europe and position the organisation for accelerated growth and momentum in the European market.”
Once the separation is complete, Zayo Europe will have a new board of directors, including Jens Schulte-Bockum as Chairman. Schulte-Bockum is the former CEO of Vodafone Germany and Group COO of MTN Group.
“This strategic move will allow us to tailor our services and solutions to the needs of our European customers. As an independent company, we will have the agility to innovate faster, enhance our customer service, and deepen our commitment to the local markets,” said Colman Deegan, CEO of Zayo Europe.
“This is an exciting new chapter for us, and we are committed to leveraging this opportunity to deliver even greater value to our customers and investors.”
Full legal separation is expected to happen in the second half of 2024.
