- Founder Greg Mesch becomes vice-chair as Simon Holden is named CEO.
- Move follows a major refinancing that industry reports peg at about US$3bn.
What happened: Leadership change after refinancing
CityFibre confirmed a leadership transition, with long-serving founder Greg Mesch stepping aside as chief executive and Simon Holden—the company’s chief operating officer—taking over with immediate effect. Mesch will move to a vice-chair role. The company announced the changes in an official press release.
Trade outlets note the handover comes shortly after a significant refinancing designed to support the next phase of the network build. Coverage from TelecomTV and Light Reading indicates the package totals roughly US$3bn, with Holden having led negotiations.
Also read: CityFibre achieves profit amid UK fibre challenges
Also read: CityFibre brings first gigabit to Buckinghamshire
Why it’s important
CityFibre is the UK’s third-largest wholesale full-fibre builder and a key counterweight to Openreach and Virgin Media O2. A stable handover matters: investors will want evidence that build targets, wholesale take-up and cash needs remain on track under Holden’s tenure. The refinancing buys time, but costs are rising and altnets face tighter capital and slower demand than the pandemic peak.
Holden inherits a to-do list that includes deepening retail partnerships (Sky is a recent example), managing M&A among stressed altnets, and securing power, permits and skilled labour for build-outs. Success will be judged less by headline premises passed and more by active connections, churn, and unit economics. If execution slips, consolidation rather than expansion could define the next chapter.
