Zayo unveiled plans to carve out its European business as a separate legal company.
Zayo Europe, now headed by newly-appointed CEO, Colman Deegan, already operates a largely autonomous, mostly-owned fiber infrastructure network across eight Western European countries. Zayo Europe will maintain key employee hubs in London, Paris, Stuttgart, and Sofia. Following the separation, Zayo Europe will have a new board of directors, including Jens Schulte-Bockum as chairman of the board. Schulte-Bockum is the former CEO of Vodafone Germany and Group COO of MTN Group.
As a standalone business, Zayo Europe will be better positioned to achieve growth objectives across the Western European markets in which it operates. Zayo and Zayo Europe will remain under the same ownership group and offer network services globally through formal contracts.
“The transition of our European business into an independent entity marks a pivotal moment in Zayo Group’s strategic journey as we look to maximize 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 organization for accelerated growth and momentum in the European market.”
“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.”
Zayo’s business that manages the global network needs of customers outside of Zayo’s core North American and European networks will also become a standalone entity with a separate management team that will continue to support North American and European customers’ international network expansions.
