Telecoms company Eir will continue to reduce its cost base in order to invest €1bn in building the best mobile and broadband networks in the country, according to new CEO Carolan Lennon.

Speaking at the Communication Workers Union conference in Killarney, Ms Lennon, who took up her position five weeks ago, said that the current change in ownership will be hugely positive for the company.

She said that for a long time Eir had not had a long-term investor.

However, she described new investors NJJ Iliad as long-term strategic telecoms investors, who know telecoms, own assets in other countries, and have experience of transforming infrastructure.

She said that what had got Eir to where it is today from examinership in 2012 would not bring Eir into the future.

Ms Lennon said the company needed to radically reduce its cost base and start generating cash as they were planning to invest €1bn in constructing the best broadband and mobile networks in the country.

Asked about the 750 redundancies sought at the company, Ms Lennon noted that the scheme was voluntary and had been well subscribed so far.

She stressed that the redundancy package was not the only step Eir was taking to reduce its cost base, as it was also probing everywhere it spends money including buildings and suppliers.

She said they were stripping back complex, old processes and management layers so that people who stay with the company would find it easier to support customers and have a better working environment.

She acknowledged that the company had challenges on the customer service side, but said it was one of her top objectives as CEO to fix that.