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| TalkTalk boss Dido Harding to step down in May | TalkTalk boss Dido Harding to step down in May |
| (35 minutes later) | |
| TalkTalk chief executive Dido Harding is to leave the telecoms group in May after seven years. | TalkTalk chief executive Dido Harding is to leave the telecoms group in May after seven years. |
| Baroness Harding will be replaced by current managing director Tristia Harrison, the broadband provider said. | Baroness Harding will be replaced by current managing director Tristia Harrison, the broadband provider said. |
| But TalkTalk also said that founder Sir Charles Dunstone will become executive chairman after he steps down as chairman of Dixons Carphone in May. | |
| TalkTalk, recently fined over a major hacking breach, also said that revenues fell in the final months of 2016. | TalkTalk, recently fined over a major hacking breach, also said that revenues fell in the final months of 2016. |
| News of the shake-up sent TalkTalk shares rising more than 6% in early trading. The shares had fallen more than 20% in the months following the high profile cyber-attack. | |
| Baroness Harding, a Conservative peer and a trustee of digital inclusion charity Doteveryone, said she wanted to focus more on her public service activities. | Baroness Harding, a Conservative peer and a trustee of digital inclusion charity Doteveryone, said she wanted to focus more on her public service activities. |
| "Between now and May, we will work together on a handover that maintains focus on this year's performance and enables the new team to prepare for the next financial year and beyond," she added. | "Between now and May, we will work together on a handover that maintains focus on this year's performance and enables the new team to prepare for the next financial year and beyond," she added. |
| Baroness Harding, appointed in October 2010, was chief executive in 2015 when hackers attacked the company's website, stealing confidential customer data. | Baroness Harding, appointed in October 2010, was chief executive in 2015 when hackers attacked the company's website, stealing confidential customer data. |
| TalkTalk, for years dogged by a reputation for poor customer service, estimated the cyber-attack, which divulged nearly 157,000 users' financial details, cost it £42m. | TalkTalk, for years dogged by a reputation for poor customer service, estimated the cyber-attack, which divulged nearly 157,000 users' financial details, cost it £42m. |
| The company was fined a record £400,000 in October for poor website security which led to the theft, making it the largest ever fine imposed by The Information Commissioner's Office. | The company was fined a record £400,000 in October for poor website security which led to the theft, making it the largest ever fine imposed by The Information Commissioner's Office. |
| Sir Charles, who created TalkTalk in 2002, said Baroness Harding had "helped transform TalkTalk into a much stronger business". | Sir Charles, who created TalkTalk in 2002, said Baroness Harding had "helped transform TalkTalk into a much stronger business". |
| "I'm excited at the prospect of spending more time on TalkTalk," he added. | "I'm excited at the prospect of spending more time on TalkTalk," he added. |
| Sir Charles, the founder of Carphone Warehouse, will remain as a senior adviser to Dixons Carphone. | Sir Charles, the founder of Carphone Warehouse, will remain as a senior adviser to Dixons Carphone. |
| He said the firm, which was created via a merger between Dixons and Carphone Warehouse three years ago, remained "a very important part of my life". | He said the firm, which was created via a merger between Dixons and Carphone Warehouse three years ago, remained "a very important part of my life". |
| "I remain a committed shareholder and, in my new role as a senior advisor, I will continue to take an active interest in the business," he added. | "I remain a committed shareholder and, in my new role as a senior advisor, I will continue to take an active interest in the business," he added. |
| 'Rebuilding trust' | |
| Sir Charles will be replaced as chairman of Dixons Carphone by Lord Ian Livingston, a former chief executive of BT. | Sir Charles will be replaced as chairman of Dixons Carphone by Lord Ian Livingston, a former chief executive of BT. |
| Meanwhile, the company announced that revenues had fallen to £435m, from £459m, for the same period a year ago. | |
| TalkTalk blamed the fall on a high level of contract renewals and new price deals, but said the impact of this was "short-term". | TalkTalk blamed the fall on a high level of contract renewals and new price deals, but said the impact of this was "short-term". |
| George Salmon, an equity analyst at Hargreaves Lansdown, said Sir Charles had to restore the company's reputation. | |
| "His main challenges will be rebuilding trust in the brand and improving relationships with customers," said Mr Salmon. | |
| He added: "For now, though, investors will be relieved that the group says it's on track to meet profit guidance, especially after November's half-year results were less than glowing. | |
| "More customers are now on low-price plans, which isn't exactly what one would want, but the group's hand has been forced by the cyber-attack and defending market share at all costs has had to take priority." |