EE has announced that Chief Executive Olaf Swantee is to step down after the company is folded into BT.

Swantee, who has led EE since 2011, will be replaced by EE’s Chief Commercial Officer Marc Allera.

The CEO has turned EE into Europe’s largest 4G mobile operator and it is no surprise that he is moving on after it becomes a subsidiary of the UK’s incumbent.

BT’s takeover of EE may get the green light from the UK’s Competition and Markets Authority as early as next week.

The CMA gave provisional regulatory clearance to the deal last October.

Swantee, said: “As we approach the imminent completion of the deal with BT and the start of an exciting new chapter for EE, I’ve taken the enormously difficult decision to step down from my role as CEO, and pursue new opportunities.

“I am immensely proud of the past four and a half years, creating, launching and growing EE to the exciting business it is today.

“It has been a period of great success, and I’d like to thank all of our employees for the incredibly hard work and support they have shown to me, as well as the business, to help achieve this.

“To leave EE is probably the hardest decision of my career, but I feel the time is right for me to handover for the next exciting chapter of EE’s incredible journey.

“I wish Marc all the success for the future.”

EE Chairman and Deutsche Telekom CFO Thomas Dannenfeldt added: “Under Olaf’s leadership EE has delivered on every level.

“Based on a strategy of network and service supremacy, EE has shown a tremendously successful market and financial performance over a number of years.

“Marc has already greatly contributed to this success in the past and I wish him the best of luck in his new role.”

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