LONDON TalkTalk founder and chairman Charles Dunstone will take over the running of the telecoms operator when chief executive Dido Harding steps down in May after seven years in charge, the company said on Wednesday.
Harding’s departure came as TalkTalk reported a 5 percent drop in revenue and said it had lost a net 42,000 broadband subscribers in its third quarter, but kept its forecast for its full year earnings unchanged.
Shares in TalkTalk, which competes with Sky and Virgin Media as well as industry leader BT, were trading up 7 percent at 167 pence at 0826 GMT.
The company was dogged for years by a reputation for poor customer service, largely as a result of merging several companies. Its shares have fallen 23 percent in the last 12 months after a high-profile cyber attack in October 2015.
“I’ve always been a firm believer that CEOs should not overstay their welcome,” Harding, who will be replaced as CEO by company insider Tristia Harrison, said.
Dunstone, who created…