Plans by Eircom, the Irish telecoms company, to float a number of its media and internet businesses early next year could be under threat after the surprise resignation of Malcolm Fallen, its chief financial officer.

Fallen, who has been appointed finance director of Kingston Communications in the UK, worked very closely on Eircom's IPO last year, and had been at the centre of Eircom's plans to realise the value of its internet and new media businesses.