Mark Reid, CFO of the Proximus Group, will leave the Belgian telecom operator at the end of January 2026 to pursue new career opportunities in the UK, the company announced.
Reid joined Proximus in May 2021 and played a central role in steering the group through two successive strategic plans, #inspire2022 and #bold2025. Under his financial leadership, Proximus returned its domestic operations to revenue and EBITDA growth from 2022 onwards, despite intensifying competition and historically high capital expenditure linked to the rollout of Belgium’s future-proof gigabit fibre network.
For the Belgian M&A market, Reid’s tenure is particularly marked by a disciplined and execution-driven acquisition and divestment strategy. As discussed in his earlier interview with MandA.be, Reid consistently emphasised portfolio focus, industrial logic and integration discipline as key principles behind Proximus’ dealmaking. This translated into a significant asset disposal programme, with around 500 million euros in assets sold by the end of 2025, strengthening the group’s balance sheet and strategic flexibility.
In early 2025, following the creation of Proximus Global, Reid also assumed the role of interim CEO of the new international unit, a position he held until November, alongside his CFO responsibilities.
Nicolas Gaertner, currently deputy CFO, will take over as interim CFO from 15 January 2026, ensuring continuity until a permanent successor is appointed.
Commenting on Reid’s departure, Proximus CEO Stijn Bijnens praised his contribution to the group’s financial resilience, large-scale investment programme and decisive execution of asset sales on the home markets.
For Belgian dealmakers, Reid’s exit marks the end of a phase in which Proximus combined heavy infrastructure investment with active portfolio reshaping – an approach that has left a clear imprint on the local M&A landscape.
