Altice NV has announced its U.S. management team in the wake of the regulatory closure of its $9.1 billion purchase of Suddenlink Communications.
Meanwhile, outgoing Suddenlink CEO Jerry Kent announced that his top managers will transition with him to data center operator TierPoint, where Kent will take over as CEO.
As Netherlands-based Altice takes over operations of St. Louis-based Suddenlink and its nearly 1.5 million customers across 17 states, Altice CEO Dexter Goei will assume the chairman position for the newly christened Altice USA.
Former Morgan Stanley investment banker Charles F. Stewart and former Altice Dominican Republic chief Hakim Boubazine will serve as co-presidents of the U.S. operation, with Stewart also serving as CFO and Boubazine doing double duty as COO.
Altice NV COO Michel Combes will oversee the integration of the U.S. operation with the rest of the company's global telecom business.
"Suddenlink is a strong, leading business which we plan to continue to develop and grow through investment in infrastructure, innovation in technology and by integrating best practices from our brands around the world," Goei said in a statement.
Meanwhile, Kent will move an executive management team that includes CFO Mary Meduski and COO Tom McMillin to TierPoint. Kent is also reinvesting an unspecified amount into Altice USA and will become chairman of a newly formed advisement council at the company.
"My investor group was extremely excited when I told them the sale of Suddenlink was a possibility, and that (Meduski and McMillin) could potentially come on board and join us at TierPoint because several of the investors in Suddenlink are investors in TierPoint," Kent told the St. Louis Business Journal. "Tom, Mary and I have a very great working relationship. It's really more a partnership than a strict reporting structure. The three of us work together well. We make decisions. We're willing to challenge each other."
For more:
- read this Altice press release
- read this Variety story
- read this St. Louis Business Journal story
Related articles:
Altice purchase of Suddenlink approved by the FCC
Altice nets another $1B, now has the money to purchase Cablevision
Altice's plan for trimming $900M from Cablevision? Get rid of the Dolans