Telefonica Czech Republic (O2) has named Tomas Budnik as its new CEO, effective 1 July.
Budnik replaces Luis Malvido, who will step down from the role at the end of June, but continue as chairman of the board of directors until the end of the year,…
Telefonica Czech Republic (O2) has named Tomas Budnik as its new CEO, effective 1 July.
Budnik replaces Luis Malvido, who will step down from the role at the end of June, but continue as chairman of the board of directors until the end of the year, according to a company statement.
Budnik joined O2 in April as director of IT and demand management, having worked for new majority shareholder, investment firm PPF, since 2011.
In his more than 20 years in the telecoms sector, Budnik has also worked for INEC, Czech Telekom (later merged with Eurotel to become O2) and GTS Central Europe, and participated in the restructuring of MobilKom (U:fon).
The change at the helm of O2 is part of a gradual transition in management since PPF acquired a 65.9% stake in the operator from Spain’s Telefonica in January.
PPF launched it mandatory takeover bid for the remaining shares in O2 earlier this month, offering Kc295.15 (US$14.64) per share. The acceptance period ends on 30 June.
O2 is the Czech Republic’s largest integrated fixed and mobile operator.
