Liberty Global Announces Management Change in Europe
June 17 2019 - 9:00AM
Business Wire
Eric Tveter Steps Down, Robert Redeleanu appointed CEO, Eastern
Europe from July 1
Liberty Global today announced the departure of Eric Tveter.
Tveter has held senior leadership roles within Liberty Global since
2009, as CEO of the company’s Swiss cable business, and then CEO of
the enlarged Central and Eastern European group which also included
Austria. Most recently, Tveter has concurrently held the positions
of CEO of the Eastern European Group and Chairman, UPC
Switzerland.
Tveter’s move is timed with the sale of many of the assets he
has overseen during his tenure. Liberty Global closed its sale of
UPC Austria earlier this year and has announced the sale of its
operations in Switzerland as well as Hungary, Romania and the Czech
Republic. Tveter spent nine years as CEO of UPC Switzerland,
contributing to the more than 50 percent increase in revenues of
the operation since first acquired by Liberty Global. The
anticipated sale of UPC Switzerland to Sunrise values the asset at
10x Estimated 2019 Adjusted Segment OCF1 and represents a
significant return to Liberty Global.
Robert Redeleanu will assume the position of CEO, Eastern Europe
reporting to Severina Pascu, effective July 1. Redeleanu initially
joined Liberty Global in 2013 as CEO, UPC Romania and has since
expanded his responsibilities to oversee each of UPC Hungary,
Romania and Poland. With this appointment, he will lead the
Company’s operations across Eastern Europe until the expected
closure of the transaction with Vodafone, at which point he will
lead the UPC businesses in Poland and Slovakia.
“I want to thank Eric for his commitment and years of loyal
service,” said Mike Fries, CEO, Liberty Global. “He has been
pivotal to the transformation of our operations across Switzerland,
Austria and Eastern Europe, driving operating and financial growth
as well as meaningful value creation. This is a natural moment for
his next ventures as we prepare to close transactions impacting six
of our operating countries, with the vast majority being in Central
and Eastern Europe.”
“Robert is a talented leader who brings considerable energy,
passion, operational acumen and customer focus,” Fries continued.
“And, as his track record shows, he is a shining example of our
homegrown talent at Liberty Global.”
Eric Tveter, added: “I very much appreciate being part of the
Liberty Global family, where the agility and entrepreneurship that
make our company great leaves plenty of room for friendship and
developing meaningful relationships. I’ve learned a lot about value
creation and operational excellence throughout my tenure that will
carry with me in my remaining time at Liberty as an advisor, and in
the next chapter of my future business opportunities.”
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is the world’s
largest international TV and broadband company, with operations in
10 European countries under the consumer brands Virgin Media,
Unitymedia, Telenet and UPC. We invest in the infrastructure and
digital platforms that empower our customers to make the most of
the video, internet and communications revolution. Our substantial
scale and commitment to innovation enable us to develop
market-leading products delivered through next-generation networks
that connect 21 million customers subscribing to 45 million TV,
broadband internet and telephony services. We also serve 6 million
mobile subscribers and offer WiFi service through 12 million access
points across our footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint
venture in the Netherlands with 4 million customers subscribing to
10 million fixed-line and 5 million mobile services, as well as
significant investments in ITV, All3Media, ITI Neovision,
LionsGate, the Formula E racing series and several regional sports
networks.
For more information, please visit www.libertyglobal.com.
1 Please refer to the Liberty Global press release dated
February 27, 2019 announcing the sale of UPC Switzerland to Sunrise
Communications Group for more detail.
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