Burdick Steps Down As Telewest Managing Director
Beleaguered cable operator Telewest has announced the resignation of its group managing director, Charles Burdick, after less than two years at the company’s helm.
Burdick, who steps down with immediate effect, will stay on as a consultant to the company until the completion of its financial restructuring, but will then relinquish his directorship to pursue other interests.
Barry Elson has been appointed as acting chief executive officer and will join the board of directors of Telewest Global, which will become the new holding company for the business following the completion of its £3.5 billion debt-for-equity swap.
Commenting on his decision the resign, Burdick said: “I want to thank everyone for helping me lead the company through this difficult period of financial and operational restructuring. I have enjoyed my time at the company; but it is a time of change, and I am leaving to pursue other opportunities.”
Elson added: “I look forward to working with the board of directors of Telewest Communications and then of Telewest Global to build on this and realise the potential of the company with the advantage of a transformed capital structure.”
Burdick was appointed managing director of Telewest in July 2002 having been group finance director since February 1997. He was previously acting group finance director from September 1996 and prior to that he was vice president of finance at Median Inc. He has also previously held various senior roles in treasury and corporate development at Time Warner and Carnation International.
Telewest recently announced that losses fell by 25% in the third quarter of 2003 as the cable firm sought to build on its customer base and free itself from crippling debts. The company reported a net addition of 1,682 subscribers during the same period and claims that 15% of its customers now take the triple play of television, telephony and broadband (see Telewest Losses Narrow In Third Quarter).
Telewest: 0800 953 5383 www.telewest.co.uk
Recent Related Stories from NewsLine ITV Shortens Commercial Breaks To Improve Ad Recall Multi-Channel Television Statistics Q3 2003 Broadband Boom Drives NTL Recovery In Q3
Subscribers can access ten years of media news and analysis in the Archive