After 14 years at the helm of Cablenet, Nikolas Siakolas hands over the position of CEO to Mr. Giannos Michailidis. Mr. Siakolas, an experienced entrepreneur, played a key role in transforming Cablenet from a small cable television company in 2006 to an extremely successful integrated provider, which now offers the fastest broadband connections and telecommunications packages of exceptional value.
“I am just proud of what Cablenet has achieved over the years. It was an amazing experience, as Cablenet evolved from a small one to a mature one, while at the same time we applied cutting-edge technologies to establish ourselves as the first choice Internet provider. In addition, I am particularly pleased with my active participation in the positive impact of Cablenet on Cypriot society. But now is the time for me to invest more than my time in the other family businesses of the CNS group “, said Mr. Siakolas.
Giannos Michailidis, a veteran director with over 27 years of international experience in the management of telecommunications companies, has been appointed CEO of Cablenet since June 15. It brings with it a history of high performance and steady growth in shareholder value. Mr. Michailidis’ relationship with Cablenet is long and well established. His position as CEO of GO plc in Malta between 2012 and 2017 was crucial to GO’s investment in Cablenet – GO is currently a major shareholder in Cablenet Communication Systems Ltd with a 60% stake. This experience, combined with his advisory role at Cablenet over the past two years, as well as his excellent relationship and collaboration with executive teams, both Cablenet and GO,
“It is an honor for me to be given the opportunity to lead Cablenet to its next stages of development and to continue to offer more value to our customers and shareholders. This is definitely an exciting time for Cablenet and I am lucky to be leading a remarkable group of people on this journey, “said Mr Michailidis.
Cablenet’s network currently covers about 55% of Cyprus’ households and offers very fast broadband connections, multiple high-definition channels and fixed telephony, from a single connection. Coverage is expanding as part of a multi-year program, which also includes significant improvements to the Company’s systems and processes, in order to maintain the lead in the provision of convergent market communication and entertainment services. During 2019, Cablenet continued to increase its customer base by 9.1%, with the result that its total customer base today is over 73,000 subscribers. Recently, Cablenet has invested in its own range of mobile phones, allowing it to start operating its own mobile network.
Mr. Siakolas will assume the role of Chairman of the Board of Directors of Cablenet and will continue to actively support the Company in its strategic orientation.
The Board of Directors thanks Mr. Siakolas for his commitment, dedication and vision over the years that have led Cablenet to the position of the strongest player on the market today and wishes him every success for the future. The Board of Directors also welcomes Mr. Michaelides and wishes him every success in his new role as CEO