TalkTalk Hires Executive Chairman, CEO -- Update

(Adds share price, detail of management changes.)

By Simon Zekaria and Ian Walker

LONDON--Two of the U.K.'s best known high-street consumer brands announced boardroom shakeups Wednesday, with the founder and chairman of Dixons Carphone PLC (DC.LN), Charles Dunstone, stepping down from his role on April 30 to become executive chairman of TalkTalk Telecom Group PLC (TALK.LN), which has also replaced its chief executive.

Electronics retailer Dixons Carphone, a FTSE 100 company, said it was replacing Mr. Dunstone with Ian Livingston, who has been deputy chairman since 2015.

Another executive, Tony DeNunzio, steps up to become deputy chairman.

Mr. Dunstone was previously a part-time chairman at TalkTalk, a telecommunications and internet services provider.

TalkTalk said Chief Executive Dido Harding had resigned after seven years at the helm, to be replaced by Tristia Harrison who is currently managing director of TalkTalk's consumer business. Ms. Harding is leaving to focus more on public service, the company said.

TalkTalk also appointed Charles Bligh, currently managing director of TalkTalk's business-focused operations, as its new chief operating officer.

TalkTalk, which competes in the U.K. with companies like BT Group PLC and Vodafone Group PLC, reported a 5.2% fall in third-quarter revenue to 435 million pounds ($544 million), though it backed its guidance for strong earnings before interest, taxes, depreciation and amortization growth.

The board plans to recommend an unchanged final dividend of 10.58 pence for fiscal 2017.

At 1001 GMT, shares in TalkTalk were up 6.7% at 167 pence. Shares in Dixons Carphone fell 0.3%.

-Write to Simon Zekaria at [e-mail] and Ian Walker at [e-mail]

(END) Dow Jones Newswires

February 01, 2017 05:49 ET (10:49 GMT)

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