Tveter’s resignation comes at a time when many of the assets he has overseen during his tenure with the company has been sold. Earlier this year, Liberty Global closed the sale of UPC Austria and announced the sale of its operations in Switzerland as well as a Hungary, Romania and the Czech Republic.
“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,” said Tveter. “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.”
Tveter spent nine years as CEO of UPC Switzerland, contributing to the more than a 50% increase in revenues of the operation since first acquired by Liberty Global. The anticipated sale of UPC Switzerland to Sunrise values the business at 10x the estimated 2019 adjusted segment Operating Cash Flow.
“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.”
Taking over from Tveter is Robert Redeleanu who will assume the position of CEO of Eastern Europe as of 1 July. Reporting to Severina Pascu, Redeleanu has been with Liberty Global since 2013 when he served as CEO of UPC Romania. Since then his responsibilities have been expanded to oversee each of UPC Hungary, Romania and Poland. In his new role, he will lead the company’s operations across Eastern Europe until the closure of the Vodafone deal, 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 continued. “And, as his track record shows, he is a shining example of our homegrown talent at Liberty Global.”
