Liberty Global (NASDAQ: LBTYA, LBTYB, LBTYK) announced that John Porter will step down as CEO of Telenet after 13 years in the role and more than 30 years with Liberty Global. Rocío Lorenzo will succeed him on Nov. 2, 2026.

Porter joined Liberty Global in 1994 and became CEO of Telenet in 2012 following the sale of Australian operator AUSTAR to Foxtel. He will remain with Telenet through the end of 2026 to support the leadership transition and will continue as chairman of Wyre, Telenet's network infrastructure company.

Lorenzo currently serves as Senior Vice President of Liberty Latin America and Executive President and General Manager of Cable and Wireless Panama, a position she has held since January 2024. She will report to Stephen van Rooyen, CEO of Ziggo Group, Telenet's parent company.

Before joining Liberty, Lorenzo was Managing Director and Senior Partner at Boston Consulting Group, where she led its telecommunications practice. She previously worked with Porter on several Telenet initiatives, including the 2016 acquisition of mobile network BASE.

Telenet operates as a subsidiary of Ziggo Group, a newly formed entity that combines Liberty Global's interests in VodafoneZiggo and Telenet. Ziggo Group is 90% owned by Liberty Global and 10% owned by Vodafone Group, and is preparing for a planned listing on Euronext Amsterdam in mid-2027.

Ziggo Group serves 13 million customers and reported €6.6 billion in revenue across the Netherlands, Belgium and Luxembourg.