Beleaguered cable operator Telewest has announced the appointment of Eric Tveter as president and chief operating officer following the departure of acting chief Barry Elson last month.
The appointment comes just weeks before the expected completion of the company’s crucial £3.9 million debt for equity swap, which was agreed last September after months of wrangling with investors and bondholders.
Tveter will oversee the day to day running of the new Telewest Global entity, which will become the holding company of the restructured Telewest group, upon completion of its proposed financial restructuring next month.
His primary responsibilities will include overseeing Telewest’s network and infrastructure, which comprises its residential, business and content division. He will report to acting chief executive, Barry Elson, who has returned to the US for personal reasons.
Commenting on the appointment, Telewest chairman, Cob Stenham, said: “Eric’s strong and diverse operating background will help him focus on profitable customer acquisition and enhancing customer service which are central to our business. As our recent trading results show, Telewest is performing well, and we are focused on adding the right people to ensure we can fully exploit the potential we have.”
Tveter has spent his career in the communications and cable industries, most recently as COO and executive vice president of Mastec Inc, a leading US infrastructure provider. Prior to that he was President of Cablevision Lightpath and vice president in Time Warner Cable.
Last month Telewest announced that 51,000 internet and 12,000 household subscribers were added during quarter one, helping to reduce the group net loss to £36 million from £187 million on the same period last year.
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