Hungary’s Magyar Telecom (Invitel) has promoted CFO David Blunck to the position of CEO.
Blunck, who became CFO in September 2012, had previously held senior finance roles in the telecoms, finance and aviation sectors in Hungary and the US.
He…
Hungary’s Magyar Telecom (Invitel) has promoted CFO David Blunck to the position of CEO.
Blunck, who became CFO in September 2012, had previously held senior finance roles in the telecoms, finance and aviation sectors in Hungary and the US.
He replaces David McGowan, who had been CEO since January 2012.
Commenting on his new role, Blunck said: “I am very pleased to have the opportunity to lead the Invitel team as we continue our successful transition to a TV-led bundled service provider in our corporate business.”
Magyar Telecom, owned by CEE-focused private equity firm Mid Europa Partners, completed a financial restructuring in late 2013 after securing Chapter 15 bankruptcy relief in the US.
Chairman Nikolaus Bethlen said McGowan’s leadership has put Invitel “on a path to operational excellence and financial stability”.
Invitel provides triple-play offerings of TV, internet and fixed voice services in the residential segment and voice, data and ICT services in the business segment.
