Telecom Argentina’s CEO has tendered his resignation despite having been in the role only since last August.
Oscar Cicchetti told the Argentinian incumbent’s board that he had accepted an offer from Telecom Italia, Telecom Argentina’s controlling…
Telecom Argentina’s CEO has tendered his resignation despite having been in the role only since last August.
Oscar Cicchetti told the Argentinian incumbent’s board that he had accepted an offer from Telecom Italia, Telecom Argentina’s controlling shareholder, to assume the responsibility of “new relevant projects” in his native Italy.
Should the board accept his resignation, Cicchetti will leave the Buenos Aires operator on 4 March. No further details of Cicchetti’s potential new role have been disclosed.
Cicchetti became Telecom Argentina CEO last summer following the departure of Stefano De Angelis, who returned to Telecom Italia to head up its consumer business unit.
Telecom Italia is in the process of exiting Telecom Argentina. It sold a small indirect stake in the operator to US investment firm Fintech last October, and will gradually divest the rest of its shares to the investor over the next few years.
Fintech originally agreed to acquire Telecom Italia’s indirect 22.7% stake in Telecom Argentina for US$960m in November 2013, but the process ran into regulatory difficulty.
