Liberty Global has announced that the CEO of its Eastern European Group, Eric Tveter, is stepping down after ten years at the company.
Liberty Global said in a statement that Tveter’s departure is timed with the sale of many of the assets he has overseen during his tenure at the company.
Tveter has held senior leadership roles at Liberty Global since 2009 and most recently worked concurrently as CEO of the Eastern European Group and Chairman of UPC Switzerland.
He previously spent nine years as CEO of UPC Switzerland, which Liberty Global agreed to sell to Swiss operator Sunrise earlier this year for a total enterprise value of CHF 6.3 billion (€5.6 billion).
Tveter also oversaw UPC Austria, which Liberty Global sold to T-Mobile Austria for €1.9 billion last year. UPC Austria was part of Liberty’s enlarged Central and Eastern European group.
Meanwhile, further European assets are set to go when Vodafone closes its 2018-agreed €18.4 billion acquisition of Liberty Global’s operations in Germany, the Czech Republic, Hungary and Romania.
Robert Redeleanu, who joined Liberty Global as CEO of UPC Romania in 2013 and has since expanded his responsibilities to oversee UPC Hungary, Romania and Poland, is set to replace Tveter on July 1.
Redeleanu will lead the company’s operations across Eastern Europe until the expected close of the Vodafone deal, 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.”
Tveter said: “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.”
