Altice USA Hires Comcast’s Dennis Mathew as CEO, Dexter Goei to Become Exec Chairman

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Altice USA is making changes at the top: The cable operator announced that it has recruited Comcast veteran Dennis Mathew as CEO.

Mathew takes over effective Oct. 3, assuming the CEO role from Dexter Goei, who has been named executive chairman of the board of directors. All of Goei’s direct reports will report to Mathew. Patrick Drahi, Altice USA’s founder and current chairman, will remain a director on the board.

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The No. 4 U.S. cable operator said it made the move to hire a new CEO “given Mr. Goei’s intention to return to Europe with his family.” Goei has worked for France’s Altice since 2009, leading the telecom company’s entry into the U.S. market through the acquisitions of Cablevision Systems and Suddenlink Communications, which now comprise Altice USA.

Mathew, 45, joins Altice USA from Comcast, where he spent the last 17 years in senior corporate and operational leadership positions. He led Comcast Cable’s largest regions — Freedom (southeast Pennsylvania, New Jersey, northern Delaware) and Western New England (Connecticut, Vermont, western Massachusetts, and areas of New York and New Hampshire) — overseeing all aspects of the residential and commercial businesses. At Altice USA, Mathew will be based in the company’s headquarters in Long Island City, N.Y.

“I am pleased to welcome someone of Dennis’ caliber and mindset to Altice USA,” Drahi said in a statement. “He has an impressive track record at Comcast, driving transformation and success in highly competitive markets and redefining the role of telecommunications services for customers through a superior service experience, all of which will serve us well.”

According to an SEC filing, Altice USA will pay Mathew an annual base salary of $1 million with an annual target bonus opportunity of $2 million. The exec will receive an initial equity grant with value of $20 million (50% in the form of stock options and 50% in the form of restricted stock units) that vest over a four-year period. He will also receive a sign-on cash bonus of $850,000 plus an additional “make-whole payment” of up to $175,000 with respect to “certain forfeitures in transitioning his employment,” per the filing. In addition, following the second anniversary of the grant date of his initial equity award, Mathew will be eligible to participate in the company’s annual long-term incentive program with an annual target award opportunity of $5 million.

Prior to joining Comcast in 2005, Mathew held positions focused on technology risk assessment with both PricewaterhouseCoopers and Andersen/Protiviti. He holds a bachelor of science degree with a concentration in finance and information management from the University of Pennsylvania’s Wharton School. In addition, Mathew is co-founder and chairman of Bloom India, a nonprofit organization whose mission is to provide high-quality education to underprivileged people throughout India. He has spent the last decade working with non-profit organizations focused on stopping human trafficking.

About his new appointment, Mathew commented, “As Altice USA advances its position as a converged fixed and wireless player, I see immense potential to further connect with and serve customers in new ways while elevating the company as the connectivity provider of choice.”

Goei, in a statement provided by the company, said, “Leading Altice USA has been the most rewarding experience in my career. From our fiber network deployment and launch of multi-gig fiber broadband offerings to our diversity and inclusion programs and local community engagement efforts, I could not be prouder of what we have accomplished together thanks to the leadership team and the thousands of dedicated employees across the country who enthusiastically serve our customers and communities every day.”

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