Belgian cableco Telenet CEO Duco Sickinghe is set to be replaced by John Porter, a former head of Australian pay-TV group Austar United Communications.
Porter is also a former COO of United International Holdings, the predecessor of US-based cableco…
Belgian cableco Telenet CEO Duco Sickinghe is set to be replaced by John Porter, a former head of Australian pay-TV group Austar United Communications.
Porter is also a former COO of United International Holdings, the predecessor of US-based cableco Liberty Global that recently launched an unsuccessful takeover bid for Telenet.
Telenet said Sickinghe will step down as CEO at the end of March, and as a director of the company on 24 April.
Commenting on his departure, Sickinghe said he believed that after a 12-year tenure, the time had come to move on, without going into details.
“I believe this to be in the best interest of Telenet and its future,” he said.
“This decision comes at the moment when Telenet is well prepared for further solid growth in the coming years.”
Sickinghe’s departure comes shortly after Liberty Global’s protracted and ultimately unsuccessful takeover bid for Telenet, following which the John Malone-owned cable giant agreed to acquire the UK’s Virgin Media for US$23.3bn (₤15.4bn).
Telenet’s incoming CEO Porter is currently chairman and non-executive director of Australian Stock Exchange-listed marketing group Enero and outdoor media company oOh!media. He joined Austar in 1995, became CEO at the time of its 1999 IPO, and left when it was sold to Foxtel in May 2012. Porter has also worked for the US’s Time Warner Communications and Group W (aka Westinghouse) Broadcasting.
In its statement today, Telenet’s board said the new CEO will help it improve revenues, profitability and cash flow as it seeks out “value-creating synergies” with Liberty Global.
“John’s track record and history with Liberty Global will ensure the continued momentum and success of Telenet. At this important moment in the business, John has the full support of the Telenet board,” it stated.
