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Everything Everywhere CEO Olaf Swantee

EE has announced that Chief Executive Olaf Swantee will stand down from his position as part of a potential £12.5 billion takeover by BT.

The deal between the two parties is currently under scrutiny from the Competition and Markets Authority (CMA), despite the regulator initially giving them green light for the merger..

There are concerns among some quarters of the industry that the combined company will be too powerful, but the deal is nevertheless expected to be completed in February.  

Once confirmed, the move will see Mr Swantee depart from his post, a move he called an “enormously difficult” decision.

He told the Financial Times: “I have had a tremendous time building EE into what it is today.

“It’s the right time for me to consider different opportunities and new opportunities.”

The Dutchman arrived at the company in 2011 after its creation following the merger of Orange and Deutsche Telekom’s T-Mobile.

He admitted he does not have a role lined up, although it is understood he will seek out another executive position.

Mr Swantee will be replaced by EE's chief commercial officer, Marc Allera, who has been at the company for the last four years.

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