TalkTalk Group says it expects some redundancies in corporate functions as it demerges its main operating businesses into three standalone companies.
These will be the B2B Wholesale Platform, TalkTalk Consumer, and TalkTalk Business Direct. The new companies will become operationally separate on November 1, and legally separate from March 1, 2024.
Each division will be overseen by TalkTalk Group CEO Tristia Harrison who will chair a new Oversight Board until March 1. After this, she will become a non-executive director of the B2B Wholesale Platform.
The current MD of TalkTalk Business Wholesale Tom O’Hagan will be CEO of the Wholesale Platform. Adam Dunlop, the former managing director of iD Mobile and current MD of TalkTalk Consumer and Supply & Partnerships, will be the CEO of TalkTalk Consumer. Ruth Kennedy continues as managing director of TalkTalk Business Direct.
The demerger will allow each company to focus on their own customer bases, eliminate operational complexity and simplify investment on a standalone basis.
The three demerged businesses will be based in Salford and continue to be supported by existing TalkTalk Group shareholders.