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C21May iPad

Virgin Media names new CEO

Liberty Global has promoted from within to replace outgoing CEO Tom Mockridge at its cableco Virgin Media in the UK and Ireland.

Lutz Schüler

Lutz Schüler will take up the position on June 11, having joined Virgin Media as chief operating officer in September 2018 after eight years running parent company Liberty Global’s operations in Germany.

Mockridge, who has been Virgin Media CEO since Liberty Global first acquired the business in 2013, is leaving the company to base himself in Italy with his family.

“During his eight years in Germany, Lutz led a talented team and created significant value. Since joining Virgin Media last year, he has made an immediate impact, uniting the team around a clear strategy for continued best-in-class growth in the UK and Ireland,” said Mike Fries, CEO of Liberty Global and chairman of Virgin Media.

Fries added: “I want to thank Tom for his tireless commitment to transforming Virgin Media since we acquired the business in 2013. Under Tom’s leadership, operating cash flow increased 35% and Virgin Media is now recognised as the leader in ultrafast broadband, the best entertainment and superior quality of service.”

Alongside Virgin Media, Liberty Global’s interests range from a 50% stake in UK-based production and distribution group All3Media to a bouquet of networks in Ireland and a 10% stake in UK commercial broadcaster ITV.

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