Eir chairman Padraig McManus has said he has decided to step down from the role later this year.

Mr McManus was appointed chairman at the end of 2012 and has overseen major transformation and growth for the company during that time.

In a statement, Mr McManus said that in the past five years Eir has redrawn the fibre map in Ireland and has made many positive contributions to our economy.

"This was recently demonstrated by the agreement between Eir and Denis Naughten, the Minister for Communications, Climate Action and Environment, which paves the way for an additional 300,000 premises across Ireland to access high speed broadband resulting in the Eir fibre network extending to a total of 1.9 million homes," he stated.

"I believe the company is well positioned to continue to grow and prosper in the future," he added.