Telefonica promotes UK CFO to succeed Key

LONDON, Dec 12 (Reuters) - Telefonica (TEF.MC: Quote, Profile, Research, Stock Buzz) has promoted Ronan Dunne, the former chief financial officer of its UK telecoms business, to succeed former UK chief Matthew Key, the Spanish telecoms company said on Wednesday.

Telefonica said 44-year-old Dunne, who has been credited with integrating The Link retail store chain, will take over from Key as chief executive of O2 UK next year.

Key, under whose stewardship O2 UK has become the top British mobile phone company in terms of revenues and customers, is becoming chief executive of Telefonica O2 Europe -- the Spanish group's European telecoms businesses outside Spain -- to replace Peter Erskine, who is resigning. (Reporting by Kirstin Ridey; Editing by Quentin Bryar)