Incumbent Portugal Telecom (PT) has appointed current board member Joao Mello Franco as the company’s new chairman.
He replaces Henrique Granadeiro, who stepped down from his role as PT’s CEO and chairman in early August.
His resignation came just…
Incumbent Portugal Telecom (PT) has appointed current board member Joao Mello Franco as the company’s new chairman.
He replaces Henrique Granadeiro, who stepped down from his role as PT’s CEO and chairman in early August.
His resignation came just a few weeks after Rioforte’s default on a debt payment to the Portuguese telco forced it to accept a lower stake in its merger with Brazilian operator Oi.
A PT spokesperson said the company will not appoint a new CEO, as the new corporate structure resulting from the merger with Oi would no longer justify having a separate executive committee.
Zeinal Bava has recently taken over as group CEO while Armando Almeida is the chairman of the combined Oi/PT’s Portuguese operations.
Mello Franco has held a number of roles at PT over the last 30 years, including as chairman at Telefones de Lisboa e Porto, Companhia Portuguesa Radio Marconi and Telecomunicacoes Moveis Nacionais.
