Jagusz will step down from O2 Direct Partner following its acquisition by Maintel
Azzurri Communications CEO Chris Jagusz will step down from the O2 Direct Partner this month following its acquisition by Maintel.
Jagusz joined from SSE Telecom in May 2014, and was tasked with seeing the Weybridge-based dealer return to growth after several years of declining financials.
Though revenue dipped from £111 million to £95 million during his tenure, EBITDA grew 18 per cent to £5.9 million in the last financial year, while Jagusz also helped reduce the firm’s debt 75 per cent to £25 million.
“With the integration of Azzurri into Maintel progressing well, I’ll be leaving Azzurri in the summer,” he said. “I’m really pleased that Azzurri has found such an excellent home, knowing that Maintel’s service ethic, technical skills and financial stability will give customers and employees confidence in the combined larger entity.”
‘Great job’ Maintel agreed to buy Azzurri for an undisclosed fee in April in a deal that will almost treble its revenues.
It is understood that his responsibilities will be integrated into Maintel’s existing management structure and that he will not be directly replaced, although Maintel declined to confirm this as Mobile News went to press.
Maintel CEO Eddie Buxton said: “As a result of Azzurri’s acquisition by Maintel, Chris Jagusz, CEO of Azzurri, will be leaving the business in the summer. We wish Chris all the very best – he’s done a great job at Azzurri and I’ve enjoyed working with him since the acquisition.”