Liberty Global has announced that Robert Redeleanu, CEO of UPC Hungary and UPC Poland, has been appointed CEO, Eastern Europe, effective July 1. He replaces Eric Tveter, who has held senior leadership roles in the company since 2009, as CEO of the Swiss cable business and then CEO of the enlarged Central and Eastern European group, which also included Austria.
Robert 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 report to Severina Pascu, leading the Company’s operations across Eastern Europe until the expected closure of Liberty Global’s transaction with Vodafone, at which point he will lead the UPC businesses in Poland and Slovakia.
Liberty Global’s CEO, Mike Fries, said: “Robert is a talented leader who brings considerable energy, passion, operational acumen and customer focus. As his track record shows, he is a shining example of our homegrown talent at Liberty Global.”
The move by Eric Tveter, who concurrently held the positions of CEO of the Eastern European Group and Chairman, UPC Switzerland, 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.
Eric 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.
Mike Fries said: “I want to thank Eric for his commitment and years of loyal service. 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.”
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.”