Senior management shake-up for Liberty Global in central Europe
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Editor
| 17 June 2019

Media giant Liberty Global has announced the departure of Eric Tveter, currently CEO of the company’s Eastern European Group and chairman of UPC Switzerland.

Tveter spent nine years as CEO of UPC Switzerland, contributing to the more than 50% increase in revenues of the operation since first acquired by Liberty Global. The move is said to be 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 recently announced the sale of its operations in Switzerland as well as Hungary, Romania and the Czech Republic. The anticipated sale of UPC Switzerland to Sunrise values the asset at 10x Estimated 2019 Adjusted Segment OCF.

“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 Redeleanu will assume the position of CEO, Eastern Europe reporting to Severina Pascu, effective from 1 July 2019 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.

“Robert is a talented leader who brings considerable energy, passion, operational acumen and customer focus,” Fries added. “And, as his track record shows, he is a shining example of our homegrown talent at Liberty Global.”