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LONDON - Virgin Media chief executive Steve Burch has resigned with immediate effect for family reasons, the group said today, in the latest blow to the troubled British cable operator.
The announcement follows Virgin Media's move earlier this month to postpone a sale of the company due to concerns over the volatile credit market and analysts said uncertainty over the group's future could make it harder to find a replacement.
Burch successfully led the former NTL-Telewest through two large deals and a relaunch but was caught up in a high-profile row earlier this year with fierce rival BSkyB that cost the group customers.
BSkyB withdrew its basic channels, which offer shows such as "Lost" and "24," from the the Virgin Media cable platform after the groups failed to agree a carriage deal.
Chief operating officer Neil Berkett will become acting chief executive and a search for Burch's replacement will begin shortly, the company said in a statement.
- REUTERS
