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Eircom CEO Donovan to step down.

Eircom to lose CEO
Eircom to lose CEO

The chief executive officer of telecoms group Eircom is to step down at the end of this year.

A statement from Eircom said Paul Donovan's decision was for personal reasons.

The company said the coming months would allow for the recruitment of a successor, a smooth transition and the conclusion of the group's planned restructuring of its balance sheet.

Eircom is awaiting the outcome tomorrow of a vote by senior lenders on a proposal aimed at restructuring its €3.75 billion of debt.