February 1, 2018 / 11:49 AM / 3 months ago

Altice executive Turrini, part of old guard, to leave debt-ridden group

PARIS, Feb 1 (Reuters) - Regis Turrini will leave French telecoms group SFR and its parent company Altice <ATCA.AS , said a source with knowledge of the matter, as debt-ridden Altice pushes on with a restructuring aimed at improving its financial performance.

Turrini, a secretary general at SFR, should leave at the start of March, added the source, who was confirming an earlier report in French paper Le Figaro. SFR declined to comment on the matter.

Turrini was part of the team of former Altice chief executive Michel Combes, who was ousted last year by Altice’s founder and main shareholder Patrick Drahi, following a set of disappointing results and a share price slump.

Drahi has since unveiled plans to cut debt and improve Altice’s performance, including spinning off the cable and telecom company’s U.S. arm and prioritising efforts to turn around its European operations including SFR.

Last month, Sprint Corp appointed former Altice CEO Combes as its chief financial officer, replacing Tarek Robbiati who had chalked out a turnaround plan for the telecom company that involved sweeping cost cuts. (Reporting by Gwenaelle Barzic; Editing by Jean-Michel Belot and Sudip Kar-Gupta)

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