Balan Nair, currently Chief Technology & Innovation Officer
for Liberty Global, to assume new position upon split-off into
separate public company
Liberty Global plc ("Liberty Global" or the “Company”) (NASDAQ:
LBTYA, LBTYB, LBTYK, LILA and LILAK), the world’s largest
international TV and broadband company, today announced that Balan
Nair, currently Chief Technology & Innovation Officer for
Liberty Global, will assume the position of President and CEO of
its Latin American and Caribbean operation once the split-off from
Liberty Global occurs, which is expected around the end of the
year.
Mr. Nair brings to his new role nearly 25 years of experience in
the telecommunications, internet, cable and media industries. As
one of Liberty Global’s top executives over the last 10 years, he
has managed the group’s fixed and mobile network operations,
broadband and video product development and strategic planning. He
currently oversees a workforce of 7,500 employees and an operating
and capital budget of more than $5 billion in Europe, as well as
the technology and product roadmap for Latin America. Mr. Nair will
remain in his current position with Liberty Global until the
split-off is completed, and a search is already underway for his
successor.
Liberty Global CEO, Mike Fries, who will serve as Executive
Chairman of the Latin American company after the split-off, said:
“Balan is an exceptional technologist and operating executive who
has delivered tremendous value to our company as CTO. He has led us
into the future with next-generation broadband, video and mobile
products, and has transformed our entire technology operating
model. I am excited that Balan has agreed to lead this new company
into the future, and I look forward to continuing our close working
relationship as part of the broader Liberty family.”
Balan Nair added: “It’s been a privilege to work with and learn
from Mike Fries and John Malone, and I am proud and humbled to have
the opportunity to continue collaborating with them in my new role
as President and CEO of Liberty’s Latin American and Caribbean
operation. I plan to leverage my experience to build operating and
strategic momentum for us in one of the world’s most exciting
growth markets.”
In addition to Mr. Fries, who will serve as Executive Chairman,
and Balan Nair, the board of the new company is expected to include
John Malone, currently Chairman of Liberty Global, Liberty Global
directors Paul Gould and Miranda Curtis, and Liberty Global CFO
Charles Bracken. Liberty Global has also identified three
additional directors who will add regional expertise and strategic
value – Eric Zinterhofer, lead independent director and former
chairman of Charter Communications; Alfonso de Angoitia, Co-CEO of
Grupo Televisa N.A.; and Brendan Paddick, former board member of
Cable & Wireless Communications Plc, and founder and former CEO
of Columbus Communications.
About Balan Nair
Balan Nair is Executive Vice President and Chief Technology
& Innovation Officer for Liberty Global, overseeing its
worldwide network, technology and innovation operations, including
product development, IT, network operations, mobile operations and
global supply chain functions. He also leads both the technology
investment venture group and corporate strategy group. Mr. Nair is
an executive officer of Liberty Global and sits on the Executive
Leadership Team and the Investment Committee, where he is
instrumental in working with the Company’s senior management and
board to support a customer-centric focus and leverage Liberty’s
innovation and technology operating model on a global basis.
Prior to joining Liberty Global in July of 2007, Mr. Nair served
as AOL’s Chief Technology Officer overseeing technology, IT, and
network operations. Prior to his role at AOL, Mr. Nair spent 12
years at Qwest Communications International Inc., most recently as
Chief Information Officer and Chief Technology Officer.
Mr. Nair sits on the boards of Charter Communications, Inc., a
leading cable operator in the United States, and Adtran
Corporation. In addition, he is a co-chair of Energy 2020, an
initiative of the Society of Cable Telecommunications Engineers to
reduce the cable industry’s power consumption. He holds a patent in
systems development and is a Licensed Professional Engineer in
Colorado. Mr. Nair holds a Masters of Business Administration and a
Bachelor of Science in electrical engineering, both from Iowa State
University.
Forward-Looking Statements and Disclaimer
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements with respect to the split-off of
Liberty’s Latin American and Caribbean operation, including
management changes and the timing of the transaction, and
statements that are not historical fact. These forward-looking
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by these statements. These risks and uncertainties include, among
other things, events that are outside of our control, such as
hurricanes and other natural disasters, the continued use by
subscribers and potential subscribers of our services and their
willingness to upgrade to our more advanced offerings; general
economic factors and other factors detailed from time to time in
our filings with the Securities and Exchange Commission, including
our most recently filed Form 10-K, as amended, and Form 10-Q. These
forward-looking statements speak only as of the date of this
release. We expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in our
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
Nothing in this press release constitutes an offer of any
securities for sale.
About Liberty Global
Liberty Global is the world’s largest international TV and
broadband company, with operations in more than 30 countries across
Europe, Latin America and the Caribbean. We invest in the
infrastructure that empowers our customers to make the most of the
digital revolution. Our scale and commitment to innovation enable
us to develop market-leading products delivered through
next-generation networks that connect our 25 million customers who
subscribe to 51 million television, broadband internet and
telephony services. We also serve over 10 million mobile
subscribers and offer WiFi service across 10 million access
points.
Liberty Global’s businesses are comprised of two stocks: the
Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our
European operations, and the LiLAC Group (NASDAQ: LILA and LILAK,
OTC Link: LILAB), which consists of our operations in Latin America
and the Caribbean.
The Liberty Global Group operates in 12 European countries under
the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The
Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint
venture, which has 4 million customers, 10 million fixed-line
subscribers and 5 million mobile subscribers. The LiLAC Group
operates in over 20 countries in Latin America and the Caribbean
under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In
addition, the LiLAC Group operates a sub-sea fiber network
throughout the region connecting over 40 markets.
For more information, please visit www.libertyglobal.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171030005590/en/
Liberty GlobalInvestor
Relations:Oskar Nooij, +1 303 220 4218Christian
Fangmann, +49 221 8462 5151John Rea, +1 303 220 4238orCorporate Communications:Matt Beake, +44 20
8483 6428Julia Hart, +31 20 778 3345
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