Stijn Bijnens' Leadership Shift at Proximus: A Catalyst for Tech-Driven Transformation

The appointment of Stijn Bijnens as CEO of Proximus Group marks a pivotal moment for Belgium's telecom leader. Bijnens, a visionary in 5G, artificial intelligence (AI), and hybrid cloud technologies—the so-called "Trinity of Innovation"—is now tasked with accelerating Proximus' digital transformation. This shift positions the company to capitalize on growing demand for advanced telecom solutions while navigating regulatory and competitive challenges. Here's why investors should take note.

The Bijnens Factor: A Trinity of Expertise

Bijnens, 56, brings a career defined by technological foresight. As CEO of Cegeka since 2019, he spearheaded its rise as a Microsoft-certified hybrid cloud and security partner, achieving a rare "Solutions Partner Designation" across all six Microsoft Cloud domains. His Trinity framework—5G, AI, and hybrid cloud—emphasizes their synergistic potential to drive actionable intelligence, automation, and productivity. This expertise aligns seamlessly with Proximus' ambition to become a European tech leader.

Proximus' Current Tech Ecosystem: A Foundation for Growth

Proximus already boasts robust partnerships that Bijnens can leverage. Its collaboration with Cegeka and Microsoft delivers a managed 5G+hybrid cloud service, combining Citymesh's 5G networks with Azure Private MEC and Azure Arc. This platform targets sectors like smart manufacturing and healthcare, enabling edge computing for real-time data processing. Additionally, Proximus' global division, Proximus Global, is expanding its cloud and cybersecurity services through AWS partnerships, while sovereign cloud initiatives with Intel and Thales address EU data sovereignty mandates.

Strategic Synergies: How the Trinity Could Pay Off

1. Enterprise Solutions & Cybersecurity:
   Proximus' fiber and 5G networks provide the backbone for industrial IoT and AI-driven analytics. Bijnens' hybrid cloud expertise could deepen partnerships with industrial clients, while Cegeka's security pedigree bolsters Proximus' cybersecurity offerings—a critical differentiator in an era of escalating cyber threats.

2. Hybrid Cloud Expansion:
   Proximus aims to unify its cloud infrastructure with Azure and AWS, reducing operational costs and enabling scalable services. Bijnens' track record at Cegeka, where he optimized cloud deployments for SMEs and enterprises, suggests he can replicate this success at scale.

3. European Market Dominance:
   With 43% fiber coverage in Belgium and a sovereign cloud edge, Proximus is well-positioned to serve EU businesses wary of U.S. cloud dominance. Bijnens' Trinity vision could unlock new verticals, such as smart cities or healthcare data platforms, leveraging Proximus' 1.18 million convergent customers as a launchpad.

Risks and Challenges

• Execution Risks: Integrating Cegeka's Trinity into Proximus' legacy systems will require flawless coordination. Delays or cost overruns could strain margins, currently pressured by a 0.7% dip in domestic Business EBITDA in Q1 2025.
• Regulatory Headwinds: EU data laws (NIS2, DORA) demand rigorous compliance, particularly for sovereign cloud projects. Missteps could lead to fines or reputational damage.
• Competitive Pressures: New entrants like Digi and price wars in mobile postpaid markets remain threats. Proximus' multi-brand strategy (Proximus, Scarlet, Mobile Vikings) must stay sharp to retain market share.

Investment Thesis: A Balanced Outlook

Proximus' stock has underperformed peers in the past year amid execution concerns, but Bijnens' appointment injects optimism. Buy-and-hold investors targeting tech-driven telecoms should consider Proximus as a long-term play:

• Upside: Successful Trinity integration could unlock 20%+ growth in Proximus Global's EBITDA by 2025, supported by asset sales (€600M+ by 2027) and cost efficiencies.
• Downside: Near-term risks include regulatory hurdles and execution delays. Investors should monitor Q3 updates on fiber rollout and cloud partnerships.

Conclusion: A Telecom Titan's Tech Renaissance

Bijnens' appointment is more than a leadership change—it's a strategic pivot toward tech leadership. By harnessing the Trinity of Innovation, Proximus could redefine its role in Europe's digital economy. While risks remain, the synergy between Bijnens' vision and Proximus' infrastructure creates a compelling case for investors to watch this space closely.

Final recommendation: Consider a gradual build in Proximus exposure with a 12-18 month horizon, hedged against near-term execution risks.