Numericable-SFR CEO steps down

Numericable-SFR has announced that chief executive Eric Denoyer is to step down from his position.

Denoyer will remain on the company’s board and will be temporarily replaced by Michel Combes – who was appointed company chairman last September – until a permanent replacement is found.

A new CEO is expected to be appointed this month and will be faced with the task of implementing a strategy to secure new customers following a year of cost-cutting and restructuring at the group.

In his position as chairman, Combes has rebuilt the company’s management team around three pillars: commerce, operations and support.

“The new team represents a new milestone for the success of our market goal: to make SFR the leader in ultra-fast broadband and content,” Combes said.

Numericable-SFR hit network quality problems last year which lead to an investigation by France’s competition watchdog, and Deutsche Bank estimated that it lost 1.3 million mobile clients.

“SFR is now in the stage of commercial reconquest, it is logical that it needs a new driving force,” a source told Reuters.

Numericable-SFR lost 3.52% of its market share in 2015 while competitors Orange, Illiad and Bouygues gained 9.4%, 10.7% and 21.9% respectively.