Liberty Global Taps New CEO for Eastern Europe
DENVER, Colo. -- 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.