Telefonica Czech Republic’s (O2’s) Luis Malvido will step down as CEO at the end of June, and continue in his role as chairman of the board of directors until the end of the year.
Malvido’s departure, by mutual agreement with new majority…
Telefonica Czech Republic’s (O2’s) Luis Malvido will step down as CEO at the end of June, and continue in his role as chairman of the board of directors until the end of the year.
Malvido’s departure, by mutual agreement with new majority shareholder PPF, is part of the gradual transition of management, the telco said in a statement. No successor was named.
Investment group PPF, founded by Czech businessman Petr Kellner, completed its Kc63.6bn (US$3.32bn) acquisition of a majority stake in Telefonica CR from Spain’s Telefonica at the end of January.
After finishing up in the Czech Republic, Malvido will return to the Spanish incumbent.
The move follows PPR investment director and Telefonica CR vice chairman Martin Vicek’s appointment as interim CFO at the Czech operator in March. Vicek started his new role on 1 April and will appoint his own successor. He replaced David Melcon, who returned to Telefoncia’s Madrid headquarters.
