Following the appointment of Zeinal Bava as CEO earlier this month, Brazilian wireless operator Oi is announcing more management changes.
In a filing with Brazil’s securities and exchange commission, Oi said Alex Zornig, its CFO and investor…
Following the appointment of Zeinal Bava as CEO earlier this month, Brazilian wireless operator Oi is announcing more management changes.
In a filing with Brazil’s securities and exchange commission, Oi said Alex Zornig, its CFO and investor relations officer, and James Meaney, its COO, would both be leaving the operator. It did not disclose reasons for their departures.
Oi’s treasury director Bayard Gontijo will serve as interim CFO and investor relations officer until a replacement is found.
Bava joined Oi from his role as head of Portugal Telecom, which is a controlling shareholder in the Brazilian telco. The market reacted well to Bava’s appointment, as he is expected to make the operator leaner, perhaps through asset sales, so that it can increase investment in its networks
Oi was privatised in the late nineties and offers fixed-line and wireless services. PT bought into the company in 2011, spending R$8.2bn (US$4.9bn) – it now owns 25.6% of Oi.
