KCOM boss announces resignation as internet firm 'enjoys a successful year'
Lighstream ultrafast broadband being fitted
By Hull Daily Mail | Posted: 30 Jan 2018
The Hull and East Yorkshire boss for regional internet provider KCOM has revealed he will leave the business.
Gary Young, executive vice president, has announced he will step down to pursue other opportunities following a handover period.
Mr Young has led the Hull and East Yorkshire business for the past six years, as it has pushed forward with its roll-out of its fibre broadband service, Lightstream.
Last week it announced a geographical expansion, taking in Grimsby's Europarc - the first venture from the North Bank.
In a trading update today, KCOM also said the firm is continuing to “enjoy a successful year” with revenue currently in line with its expectations.
Ahead of the company’s Capital Markets Day on Thursday, February 1, KCOM Group Plc also said it remain on track to deliver an EBITDA (Earnings before interest, taxes, depreciation and amortisation) slightly ahead of expectations.
However, the company in general is currently slightly behind revenue expectations for the financial year ending March 31.
KCOM said a process is currently underway to find a successor to Mr Young, who will remain with the firm until a handover takes place.
In December 2017, KCOM achieved its target to make fibre available to 150,000 premises and has now started the second wave of its fibre deployment to cover the other addresses in KCOM’s market.
Gary Young has spent six years at KCOM
The firm expects by the end of next month it will have more customers using its fibre service, Lightstream, than the traditional copper-based service.
Last year the firm announced everyone on its network should have access to its ultrafast service by March 2019.
This will be the completion of a seven-year fibre broadband programme which has seen around £85 million in investment.
Bill Halbert, chief executive of KCOM thanked Mr Young for his contribution to the firm over six years as it has continued its deployment of fibre broadband.
He said: "We continue to execute against our strategy, bringing fibre to the final corners of Hull and East Yorkshire, refining our propositions in Enterprise and winning the trust of new and existing customers, and managing National Network Services for value.
“I would like personally to thank Gary Young for his significant contribution to our Group.
“I've worked closely with Gary over the past six years, a period in which he has led successfully our Hull and East Yorkshire business and overseen our successful deployment of fibre broadband. All of us at KCOM wish him every success in his new role."