euNetworks announces CEO transition

• Paula Cogan to step down as CEO of euNetworks, announcing her retirement
• Kevin Dean appointed to Interim CEO, overseeing business operations

London, UK - 15 August 2024 - euNetworks Group Limited ("euNetworks"), a Western European bandwidth infrastructure company, today announced that Paula Cogan, CEO of euNetworks will step down from her position effective 27 August 2024. Kevin Dean, who served as CMO and a key member of the euNetworks leadership team from 2014 to the end of 2022, has returned to the business as Interim CEO. The company is undertaking a comprehensive search process for a permanent CEO to join the business in 2025.

Paula joined euNetworks in 2021 as President, euNetworks, with responsibility for all operating aspects of the business, building on her almost 40 years of working in the telecom industry. She was appointed to the position of CEO of euNetworks on 1 January 2023, leading the business through both a successful debt refinancing and equity recapitalisation with Stonepeak, APG Asset Management (APG) and Investment Management Corporation of Ontario (IMCO). The timing of Paula's departure from euNetworks aligns with the successful completion of the refinancing.

"I have watched the company develop and grow over the years and I'm immensely proud of the team, and what's been achieved during my time at euNetworks," said Paula Cogan. "The debt refinancing and recapitalisation positions euNetworks for sustained growth alongside customers, and achieving new levels of market-leading excellence in the industry. It's at this juncture and after a long and fulfilling career in the industry, that I have taken the decision to retire. As I transition out of the business, I want to thank the incredible people at euNetworks. What you achieve, your dedication and your unwavering support to customers and each other is outstanding and it's why euNetworks is a true industry leader. I'm humbled and thankful to have been a part of what you do."

"Paula is an exceptional leader and her contribution while at euNetworks has been highly valued, said Brady Rafuse, Non-Executive Chairman of euNetworks. "Her career has spanned some truly transformative times in this sector and Paula has been known for driving transformation while leading global sales, marketing, engineering and commercial teams along the way. Her strong track record in people management, mentoring, and her commitment to driving inclusion and diversity within the telecom industry has benefitted many. Thank you Paula, and enjoy the time ahead."

Cyrus Gentry, Managing Director at Stonepeak, said, "The successful refinancing of euNetworks further empowers the company to leverage its distinct position in the region and as the market leader in data centre connectivity in Europe. euNetworks consistently sets itself apart in an increasingly interconnected society, where key fibre networks are the bedrock of the digital infrastructure landscape we see ahead. On behalf of the Board and investors of euNetworks, we extend our thanks to Paula and we wish her well in her retirement."

While CMO at euNetworks, Kevin had responsibility for product, infrastructure investments, commercial operations, marketing and strategic activities. Since leaving euNetworks, Kevin has maintained a number of advisory roles in the data centre and communications infrastructure market, and continued to work closely with Stonepeak. This experience uniquely positions Kevin as euNetworks' Interim CEO.

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euNetworks contact:

Hannah Britt | Chief Marketing Officer | euNetworks
5 Churchill Place | London E14 5HU
[email protected] email | +44 7717 896 446 mobile