SMART TELECOM’S chief executive and major shareholder John Riordan has left his executive role with the company.

It is understood that sales and marketing director Liam Duggan was this week appointed to head the Dublin-based telecoms group.

Mr Duggan has assumed the role of chief operating officer with Smart but will retain responsibility for the company’s sales activities.

Mr Riordan, who owns 20 per cent of the telecoms business, left Smart in recent weeks. It is not clear if he remains a shareholder.

A source close to Smart said Mr Riordan left the business for “personal reasons”. He could not be contacted for comment.

A native of Kerry, Mr Riordan became chief executive in February 2007 and restructured the business following its takeover by a company controlled by Kingspan co-founder Brendan Murtagh. He also held the titles of chairman and president. Mr Riordan was previously chairman and chief executive of UPC, the largest cable television company in Europe and is a former head of Princes Holdings in Ireland, which previously owned Chorus cable TV.

Smart recently laid off 30 people from a full-time staff of 90.

The company sells voice, broadband and television services to the residential, corporate and government markets. It has 14,000 residential customers and 500-600 businesses taking its services.

Smart was founded in 2000 and was once listed on the stock market in London. It ran into financial difficulties in 2006, racking up losses of €55.6 million. That was a year when Smart’s landline services were disconnected by Eircom in a dispute over money owed, leaving thousands of customers without phone services.

The company was rescued by Mr Murtagh, who raised €39.5 million to repay creditors and other liabilities.