KCom has appointed a new chief executive as it prepares for the next stage of its transformation.
Tim Shaw is to step up from his current role as managing director of the Hull broadband and telecoms provider’s wholesale and networks division, as Dale Raneberg joins parent company Macquarie Asset Management.
The former Virgin Media executive director was brought in by the Australian-multinational investment giant following the £627 million buy-out in 2019. He has guided the business through its turnaround, transformation and restructure over the last three years.
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The £31.4 million sale of the national ICT division - the larger part of the company - saw a significant consolidation of the business last year, as it returned to an entirely regional focus, and profitability.
A KCom spokesperson said: “We would like to thank Dale for his stewardship during what have been pivotal years for KCom following its acquisition by Macquarie Asset Management, Real Assets in August 2019.
“This was a period of significant change for the company with the creation of a commercial wholesale business unit, launch of the £100m first phase of the expansion of the fibre network outside its heartland, sale of KCom's national ICT business, and completion of a capital raising all while delivering significant growth in the existing customer base and performance improvement in group earnings, employee engagement, customer net promoter score and environmental, social and corporate governance benchmarks.
“During this time our business achievements have been recognised with several national awards, including winning the European Broadband Award for quality and affordability, the ISPA Award for Best Consumer Internet Service Provider and, most recently, the National Technology Award for Telecoms Project of the Year.
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“We wish him well as he leaves KCom to focus on other roles with Macquarie."
Mr Shaw also joined the company in 2019, overseeing the huge network expansion - with 250,000 properties now reached.
At the last year end it boasted 147,000 customers, turning over £99.6 million, with a team of 900 now being expanded following the separation out from the ICT business, which accounted for 450 staff and £166 million of the revenues.
“We are delighted that Tim has agreed to step up to become chief executive officer, bringing with him the same knowledge and enthusiasm to the business at a group level that have seen KCom W&N make huge strides forward in recent years,” the spokesperson added.
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