Finance

Altice Reorgs Group Management Ahead of Cablevision Deal

Dexter Goei named chairman and CEO of Altice USA, Michel Combes upped to CEO of Altice N.V. 6/20/2016 7:30 PM Eastern

Altice announced a reorganization of its group management structure as the company nears the close of its proposed acquisition of Cablevision Systems.

 

Among the moves, Dexter Goei has been tapped as chairman and CEO of Altice USA and president of Altice N.V., and named Michel Combes to the post of CEO of Altice N.V.

 

Earlier, also in expectation of the growing U.S. video business, Altice named former Comcast and NBCUniversal executive Michael Schreiber as chief content officer.

 

Combes, the former CEO of Alcatel-Lucent (now part of Nokia), joined Altice as COO in September 2015. In his new role, Combes will continue his day-to-day responsibilities for Altice Group and have all operating affiliates, country CEOs and corporate functions report to him. Combes will also join the Altice N.V. board as director.

 

Goei stepped down as CEO of Altice N.V. to focus on the integration of Cablevision and Suddenlink (acquired by Altice in late 2015), the company said.

 

Goei, who will also replace Patrick Drahi as president of Altice N.V. and continue to lead its global M&A activities, is also tasked with the further development of Altice’s U.S. division.

 

Drahi, a founder a controlling shareholder of Altice, will continue to head up the strategic, operational and technology agenda for the group, and will lead a newly-formed Altice Group Advisory Council, the company said.

 

Altice said the revised structure “is reflective of the global presence of Altice N.V. centered around Europe and the US and ensures critical senior leadership, entrepreneurial spirit and best-in-class management in both regions.”

 

The reorganization comes just days after the New York State Public Service Commission approved, with conditions, Altice’s proposed purchase of Cablevision Systems, removing a final hurdle in the $17.7 billion deal.

 

“I am extremely excited about our U.S. business which is accounting for approximately 40% of our group and offers huge development opportunities,” Drahi said in a statement. “Dexter exemplifies the entrepreneurial and commercial spirit of Altice and will provide the same vital leadership to our U.S. business he displayed when building the Altice Group in the last 8 years with me.

 

“Since joining us last year,” Drahi continued, “Michel has been instrumental in structuring and harmonizing our operations and strengthening our management teams across the board. I am very pleased to work with him in his new role as the Altice Group embarks on its next phase of development. I look with full confidence into the future: the Altice Group has never been in a stronger position.”

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