Raymond Svider

About Raymond Svider

Raymond Svider (62) has served as an independent director of Altice USA, Inc. since 2017. He is Chairman and a Partner of BC Partners, with over three decades of investing and board leadership across TMT, healthcare, industrials, business services, consumer and retail. He holds an MBA from the University of Chicago and Master of Science in Engineering degrees from both Ecole Polytechnique and Ecole Nationale Supérieure des Télécommunications .

Past Roles

External Roles

Board Governance

• Independence: The Board determined Svider is independent under NYSE standards; only 3 of 9 directors are independent due to controlled company status .
• Controlled company: Next Alt/Patrick Drahi controls a majority of voting power; Next Alt designates board seats per the A&R Stockholder Agreement .
• Committee assignments:
  • Compensation Committee: Chair (committee fully independent; authority to hire FW Cook) .
  • Audit Committee: Member (committee fully independent; oversees related‑party transactions, controls, and external auditor) .
• Meetings and attendance:
  • Board met 4 times in 2024; each director attended ≥75% of Board/committee meetings .
  • Audit Committee met 5 times in 2024 .
  • Compensation Committee met 4 times in 2024 .
• Executive sessions: Non‑management directors meet in executive session at least quarterly; independent directors meet separately at least once per year .
• Lead Independent Director: None; CEO also serves as Chairman (Board determined combined role appropriate) .
• Clawback policy: Dodd‑Frank compliant clawback adopted in Oct/Nov 2023 .
• Hedging: Prohibited without pre‑clearance; public puts/calls prohibited .

Fixed Compensation

Performance Compensation

• No performance‑conditioned director awards disclosed; RSUs are time‑vested, not tied to specific performance metrics .

Other Directorships & Interlocks

Expertise & Qualifications

• Financial and strategic expertise from chairing Compensation Committee and sitting on Audit Committee; experience in corporate strategy, finance and investments .
• Education: MBA (University of Chicago); engineering degrees from Ecole Polytechnique and ENST .
• Uses independent compensation consultant FW Cook; Committee authority to engage advisors .

Equity Ownership

• Ownership guidelines for directors: Not disclosed; no pledging disclosures for Svider; company hedging restrictions apply .
• Stock ownership context: Altice USA outstanding Class A shares 283,502,205; Class B shares 184,223,813 (Next Alt controls majority voting power) .

Governance Assessment

• Strengths:

  • Independent director serving as Compensation Committee Chair and Audit Committee member; committees are fully independent, with clear charters and authority to hire advisors (FW Cook) .
  • Formal clawback policy and hedging restrictions enhance alignment and risk control .
  • Documented committee activity (Audit: 5 meetings; Compensation: 4 meetings) and director attendance ≥75% indicate engagement .

• Risks/RED FLAGS:

  • Controlled company dynamics: Only 3/9 independent directors; Next Alt designates a majority of the Board and retains significant governance rights—elevated risk of influence over executive compensation and related‑party decisions despite committee independence .
  • CEO/Chairman combined role without a Lead Independent Director reduces independent counterbalance; places greater responsibility on Compensation/Audit Chairs (including Svider) to ensure robust oversight .
  • Extensive related‑party transactions with Altice Europe affiliates continue; Audit Committee oversight is essential to mitigate conflict risks. Svider’s Audit Committee role is pivotal here .

• Compensation oversight signals:

  • The Compensation Committee incorporates Adjusted EBITDA, divisional, and discretionary objectives; in 2024 it exercised discretion to modify EBITDA metrics (payouts near target overall). As Chair, Svider is central to calibration and discretion—watch for consistency and rigor year‑over‑year .
  • Say‑on‑pay support historically high (97% in 2022), but triennial vote cadence reduces near‑term feedback loops; continue monitoring investor sentiment .

Overall, Svider brings deep investment and governance expertise and chairs a fully independent Compensation Committee within a controlled‑company context; his committee leadership and Audit oversight are critical mitigants to control‑related risks and ongoing related‑party exposure .