New board takes over at Eircom

The board of eircom has resigned to make way for the nominees of Valentia.

Alfie Kane is to remain as CEO of the company until his successor is found.

It is understood that Philip Nolan, now CEO of UK company Lattice has been approached to become the new head of the company.

Tony O'Reilly is now the non-executive chairman of eircom.

Other new members of the board include four nominees of Providence Equity, who own 46% of Valentia , two nominees of Soros Fund, who have a 19% stake, and a nominee from Eircom Share Ownership Trust.