Altice NV : Founder- and Owner-Operated Altice Operational Management and Governance
November 09 2017 - 4:30PM
November 9, 2017
Founder- and
Owner-Operated Altice
Operational Management and Governance
Altice N.V. (Euronext: ATC, ATCB)
announces the reorganization of its group management and governance
in conjunction with the resignation today of Michel Combes, Altice
N.V. CEO, Altice N.V. Director, Altice USA Director and SFR Group
Chairman and CEO.
The new management and governance
structure is designed to better implement Altice's strategy, create
clearer accountability amongst management and improve the
operational and financial performance of the business. It aligns
more fully the interests of founders and group management, both
with significant ownership in the group, and the public shareholder
base.
Patrick Drahi will be appointed as
President of the Board of Altice N.V and will set out the
strategic, operational, commercial and technological agenda for the
group and its execution, including in particular SFR Group. Key
members of Altice N.V. management will report directly to him:
-
Dexter Goei will be appointed as CEO of Altice
N.V. Dexter will continue to focus on the successful activities in
the US as CEO and Chairman of Altice USA. In addition, Dexter will
assume responsibility for key central group functions. Digital
Advertising operations and the Dominican Republic CEO will report
directly to him. Dexter Goei remains Director of the Board of
Altice N.V.
-
Dennis Okhuijsen is appointed Altice Europe CEO
in addition to serving as CFO of Altice N.V. He will continue to
assume responsibility for all financing and investor relations
activities and the European operations CEOs will directly report
into him.
-
Jérémie Bonnin is serving as Altice General
Secretary.
-
Armando Pereira is appointed Altice Telecom COO.
In addition to his primary focus on France, Armando will assume
responsibility for all core telecommunications operational
functions across the group.
-
Alain Weill, SFR Media CEO, is appointed SFR
Group Chairman and CEO, and Altice Media COO. Alain will continue
to lead the media business across the group and implement Altice's
content and media convergence strategy in France together with
Armando and his team.
This structure represents a return
to the core organization that created the success of the Altice
Group. It will provide direct, clear leadership of the
European operations to deliver on its potential and continue to
support Altice USA.
Under Patrick Drahi's leadership,
the new structure assigns clear geographic responsibility. At
the same time, it centers core group telecom and media
organizations around proven entrepreneurs and the historic core
management team. All of these leaders are significant Altice
shareholders and will execute Altice's convergence strategy around
telecoms, media-content and data-advertising.
Patrick Drahi said "Michel has been an important part of the Altice story when
he first joined the Board of Altice. He provided key
support and judgment as we developed our expansion
strategy. As CEO, Michel critically created the group
structure to operate a transatlantic communications business while
driving key technology, research and innovation initiatives, which
will serve Altice for the future. I would like to
personally thank him for his contribution, integrity, loyalty and
friendship."
Michel Combes said "I would like to thank Patrick and the team for their
confidence over the past years. It has been a
privilege to be part of the Altice story, accompany the expansion
of the group and lead the industrialization of the convergence
strategy. With Patrick returning as President of the group, Altice
will be well positioned to execute its strategy across all
operations."
Contacts
Head of Investor Relations
Nick Brown: +41 79 720 1503 / nick.brown@altice.net
Head of Communications
Arthur Dreyfuss: +41 79 946 4931 / arthur.dreyfuss@altice.net
Regulated information
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation.
PR ALTICE MANAGEMENT
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Altice NV via Globenewswire
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