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Major Leadership Changes at United Group

In a significant development, United Group BV, the leading telecommunications and media provider in Southeastern Europe, has announced the appointment of Stan Miller as its new Chief Executive Officer (CEO). The decision comes on the heels of the company's recent strategic divestment from its non-European Union operations, marking a new chapter in United Group's focus on expanding its market presence within the EU.

New Leadership Overview

Stan Miller, a seasoned executive with over three decades of experience in the telecommunications sector, is set to lead the company into a new era. His impressive track record includes stints as CEO of KPN Mobile and as a Board Member of Royal KPN, where he was instrumental in driving growth across various European markets. He is joined by Libor Voncina, who has been appointed as Deputy CEO. Voncina brings over 20 years of telecom industry experience, including leadership roles at Telecom Slovenia and Sunrise Communications, where he successfully managed the company’s initial public offering (IPO) on the Swiss Stock Exchange.

The leadership shakeup also sees the stepping down of United Group's founder, Dragan Šolak, and the current CEO, Victoriya Boklag.

Recent Strategic Moves

United Group's recent strategic realignment comes following the successful monetization of its telecom assets outside the EU. Earlier this year, the company sold its operations in Serbia, including its television network, to E PPF, and its sports broadcasting rights in the Western Balkans to Telekom Srbija, amounting to a combined enterprise value of approximately €1.5 billion. This strategic divestment not only reinforces the company's commitment to its core European markets but also enhances its financial standing and growth potential.

Currently, United Group serves more than 40 million customers, generating around €3 billion in annual revenue and €1 billion in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). With a robust portfolio of telecommunication services, including a leading Fiber to the Home (FTTH) network, the company is well-positioned to capitalize on further opportunities in the evolving European market.

Vision for Growth

According to Nikos Stathopoulos, Chairman of Europe at BC Partners, United Group's majority owner, the new leadership team is poised to execute the next stage of the company’s strategy effectively. He expressed gratitude towards Dragan and Victoriya for their contributions towards growing the business and transitioning it from a regional operator to a substantial European platform.

The transition to Stan and Libor heralds a focus on leading converged mobile and fixed telecommunications services, with the expectation of achieving above-industry growth in key EU markets. The company's strong market presence and enhanced strategic positioning are expected to unlock significant opportunities for consolidation and expansion.

About United Group and BC Partners

United Group operates across eight countries, employing over 15,000 staff and achieving significant revenues primarily through its telecommunications and media divisions. Its media arm, United Media, ranks among the leaders in content production in the region, offering over 60 television channels and a portfolio of radio stations and print editions.

BC Partners, founded in 1986, is a leading investment firm managing €40 billion across various investment strategies. It has played a vital role in developing the European buy-out market, leveraging over three decades of expertise to foster growth across its portfolio companies.

For more information about United Group and its operations, please visit United Group's official website.

This leadership transition marks a crucial step in United Group's journey to emerge as a more focused and competitive player in the European telecom landscape, setting the stage for future successes.