2degrees appoints chairman Sherriff as permanent CEO
Aug. 27 (BusinessDesk) - Two Degrees Mobile, which has about a fifth of the country’s mobile phone market, appointed chairman Stewart Sherriff as permanent chief executive.
Sherriff has been acting CEO since Eric Hertz and wife Kathy died in a plane crash in March, and was today appointed to the role full-time. He will keep the role of chair while the board looks for a replacement, and will resign as chief technology officer at 2Degrees shareholder Trilogy International Partners.
“The board was drawn to Stewart’s experience with a range of overseas mobile operators, especially his success as CEO of Ireland’s Meteor, which was the third entrant in a market with two dominant competitors,” said Andy Scott, head of the company’s board recruitment committee. “We have great confidence that Stewart and his team can deliver even more value to New Zealand mobile users.”
The mobile operator reported earnings before interest, tax, depreciation and amortisation of $4.4 million in calendar 2012, its first positive earnings since entering the market three years ago.