Hungary’s Magyar Telecom plans to make governance changes following completion of its financial restructuring, including appointing Nikolaus Bethlen as board chairman.
Bethlen is currently vice chairman of the Magyar Telecom board and will succeed…
Hungary’s Magyar Telecom plans to make governance changes following completion of its financial restructuring, including appointing Nikolaus Bethlen as board chairman.
Bethlen is currently vice chairman of the Magyar Telecom board and will succeed Craig Butcher.
Robert Chmelar will replace Butcher as one of controlling shareholder Mid Europa Partners’ nominated directors on the board, the telco said in a statement.
Butcher is stepping down for personal reasons.
The High Court of Justice in England and Wales recently sanctioned Magyar Telecom’s scheme of arrangement for its financial restructuring. The telco has also filed for bankruptcy in the US and a hearing to consider its request for relief under Chapter 15 has been postponed until 11 December.
Magyar Telecom expects the restructuring to be complete on 12 December, provided it gets the Chapter 15 relief.
