Altice co-CEO Alexandre Fonseca leaves the company

Altice co-CEO Alexandre Fonseca, previously under suspension, has left the company.

Alexandre Fonseca (Source: Portugal Telecom)

Fonseca’s departure follows the high-profile corruption investigation into Altice Portugal that has been focused on Altice co-founder Armando Pereira and other individuals.

Fonseca has not been named as a suspect in the Portuguese police’s Operation investigation Picoas probe, but he served as head of the Portuguese operation from 2017-22, meaning that alleged corrupt practices happened on his watch.

In a message posted on LinkedIn, Fonseca said: “I would like to inform you that the Altice Group and I have reached an agreement that puts an end to a relationship of more than a decade, in which I put all my commitment and dedication and to whom I provided deep collaboration. A new phase will follow with new challenges.”

No details have been given on the settlement reached between the company and Fonseca, who suspended himself from his role at Altice in August following the temporary detention of Pereira and others.

Altice confirmed to press that it had reached an agreement with the executive, ceasing his employment and executive and non-executive functions.

Fonseca was promoted to co-CEO of Altice in April 2022 after his four years at the head of Altice Portugal.