Jeremy Darroch steps down as Sky group CEO | Major Businesses | Business
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Jeremy Darroch, at the vanguard of the transformation of Sky from a satellite TV company into one of Europe’s largest multi-platform communications provider is to quit his role after thirteen years in the job.
JeremyDarroch 7Jan2021
Darroch has been CEO of Sky since 2007, and Group CFO before that since 2004. During that time, he has driven mass profitability and innovation in the company introducing new television viewing experiences with the likes of products like Sky+, Sky HD, Sky Go, Sky Q and NOW TV. In the company’s third quarter results in November 2020, Sky was revealed to have continued adding customer relationships at higher prices while reducing churn to all-time lows in core UK business. Sky’s quarterly revenues grew by 5.2% year on year to $4.793 billion.

Sky has also brought competition and choice to British consumers in broadband, telephony and mobile services, lately mobile, telephony and fibre-to-the-home (FTTH) offers. The FTTH broadband service for the UK launched in November 2020 is designed to open up new growth in the new-build segment of the UK residential market and has a guaranteed average upload speed of 27Mbps, especially useful for video applications while 5G services were introduced in 20 leading UK towns and cities in January 2020.

Commenting on his move, Darroch said the decision to leave has not been easy but that with the Sky business settled into the wider Comcast Corporation and a strong plan in place, now was the right time to go. “I am proud of the business we have built together. We are winning in all our markets, with a strong brand, exceptional products and services, and high levels of customer and employee satisfaction. We have an outstanding and experienced leadership team who I know will continue to evolve the business in the years to come.”

Darroch will be succeeded by Dana Strong, currently president, consumer services for Comcast Cable which acquired control of Sky by acquiring 21st Century Fox’s controlling stake in October 2018.

Strong has been responsible for Comcast’s largest business and has led innovative new product and market launches in broadband, video, home security and mobile. During her tenure, the company achieved record subscriber and broadband growth and the company’s highest levels of customer satisfaction. Strong has over 25 years of international experience in global telecommunications and media and deep knowledge of the UK and European markets. Before joining Comcast, she served as president and COO of Virgin Media in the UK as well as chief transformation officer of Liberty Global, CEO UPC Ireland, and COO AUSTAR in Australia.

Strong will report to Comcast Chairman and CEO Brian L. Roberts while Darroch will remain as executive chairman through to 2021 to ensure a smooth transition and then act as an advisor to the company. Commenting on the shake up, Roberts said: “Sky’s values have been a perfect fit for ours at Comcast and that is very much due to Jeremy. He and his team have built a world-class brand and a strong, well-run business that will continue to flourish. Jeremy has been a terrific colleague to me and everyone at Sky, but I respect his decision that now is the time for him to make a change…Dana is an accomplished executive with an extraordinary ability to transform, inspire, and drive positive change.”