Eircom chief executive Alfie Kane has confirmed that he is to step down following the takeover of the company by Valentia.

The existing board has resigned en masse, to be replaced by nominees of Valentia. The new board is to be chaired by Tony O'Reilly, and includes Con Scanlon, chairman of the ESOT and general secretary of the Communications Workers' Union.

Mr Kane, who has been with Eircom for seven years, will continue to manage the company until a new chief executive is appointed.