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Belgium's Proximus to consider internal and external CEO candidates, earnings upbeat
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Belgium's Proximus to consider internal and external CEO candidates, earnings upbeat
Feb 28, 2025 1:22 AM

Feb 28 (Reuters) - Belgian telecoms group Proximus

said on Friday it will consider internal and external

candidates for its next CEO and that interim leadership will be

decided by the board soon.

Earlier this month, current head Guillaume Boutin

unexpectedly announced his departure to join Vodafone ( VOD )

and lead its investments and strategy arm.

The former phone monopoly, majority-owned by the Belgian

government, also posted upbeat earnings that lifted its shares

5% in early trade.

It had 10% growth in quarterly group revenue, slightly above

expectations, and also met its target of bringing back annual

core profit to 2022 levels.

Proximus is in the final stages of a three-year strategy

plan to boost domestic growth and fibre rollout - one that has

come at much expense.

It has also been on the back foot with its shares trading at

record lows after Romanian firm Digi ( DGII ) recently entered its home

market with mobile plans that cost about one-third less than

Proximus while offering more data.

"While we acknowledge the headwinds linked to the new

market structure, we consider ourselves very well positioned to

compete thanks to the investments in our networks, brands,

convergent offers and customer satisfaction," Boutin said in an

earnings statement.

Proximus racked up "strong mobile wins" in the fourth

quarter of 2024 despite competition from Digi ( DGII ), said KBC

Securities analyst Michiel Declerq.

The Belgian telecoms provider sees group earnings before

interest taxes depreciation and amortization (EBITDA) rising

around 2% in 2025.

Boutin had been heavily criticised for Proximus's strategies

and share slump, particularly by N-VA, the right-wing party of

new Belgian Prime Minister Bart De Wever.

It is unlikely that the CEO nomination process will end

before Boutin leaves on May 15, the company said.

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