PRESS RELEASE: Balan Nair, currently Chief Technology & Innovation Officer for Liberty Global, to assume new position upon split-off into separate public company
Denver, Colorado – October 30, 2017: Liberty Global plc (“Liberty Global” or the “Company”) (NASDAQ: LBTYA, LBTYB, LBTYK, LILA and LILAK), the world’s largest international TV and broadband company, today announced that Balan Nair, currently Chief Technology & Innovation Officer for Liberty Global, will assume the position of President and CEO of its Latin American and Caribbean operation once the split-off from Liberty Global occurs, which is expected around the end of the year.
Mr. Nair brings to his new role nearly 25 years of experience in the telecommunications, internet, cable and media industries. As one of Liberty Global’s top executives over the last 10 years, he has managed the group’s fixed and mobile network operations, broadband and video product development and strategic planning. He currently oversees a workforce of 7,500 employees and an operating and capital budget of more than $5 billion in Europe, as well as the technology and product roadmap for Latin America. Mr. Nair will remain in his current position with Liberty Global until the split-off is completed, and a search is already underway for his successor.
Liberty Global CEO, Mike Fries, who will serve as Executive Chairman of the Latin American company after the split-off, said: “Balan is an exceptional technologist and operating executive who has delivered tremendous value to our company as CTO. He has led us into the future with next-generation broadband, video and mobile products, and has transformed our entire technology operating model. I am excited that Balan has agreed to lead this new company into the future, and I look forward to continuing our close working relationship as part of the broader Liberty family.”
Balan Nair added: “It’s been a privilege to work with and learn from Mike Fries and John Malone, and I am proud and humbled to have the opportunity to continue collaborating with them in my new role as President and CEO of Liberty’s Latin American and Caribbean operation. I plan to leverage my experience to build operating and strategic momentum for us in one of the world’s most exciting growth markets.”
In addition to Mr. Fries, who will serve as Executive Chairman, and Balan Nair, the board of the new company is expected to include John Malone, currently Chairman of Liberty Global, Liberty Global directors Paul Gould and Miranda Curtis, and Liberty Global CFO Charles Bracken. Liberty Global has also identified three additional directors who will add regional expertise and strategic value – Eric Zinterhofer, lead independent director and former chairman of Charter Communications; Alfonso de Angoitia, Co-CEO of Grupo Televisa N.A.; and Brendan Paddick, former board member of Cable & Wireless Communications Plc, and founder and former CEO of Columbus Communications.