Eric Tveter steps down, and Robert Redeleanu is appointed CEO, Eastern Europe from July 1.
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 OCFi 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.”
