Following the successful (?) launch of the iPhone across Europe, Peter Erskine is stepping down from his position as managing director of Telefonica O2 Europa.

 

Erskine became CEO in 2001 when the company, still known as BT Cellnet, demerged from BT. Taking the flailing operator to the number one spot in terms of customer numbers following the rebrand to O2, before being sold to Telefonica last year for £18 billion making it part of one of the world’s biggest telecommunication companies.

Erskine said it felt like "the right time to get some fresh thinking into the company", and described his leaving as "sensible and amicable". He added that he was flattered to be asked to keep his position on Telefonica’s board, and despite being "open-minded" about future non-executive roles, he would not be looking for a new CEO position.

With £12 million in his pocket from las year’s sale, it doesn’t look like he’s in any rush for a new job.

Matthew Key, currently chief executive of O2 UK, credited by Erskine with getting the UK business into the number one spot, will pick up the MD role from January.

A spokesperson said: ‘Matthew’s track record in the UK is phenomenal, and we are 100% confident that he will replicate his UK success in Europe.’