TIM Brasil names new chairman, CEO
The board of Telecom Italia's TIM Brasil appointed a new chairman and chief executive, with immediate effect.
Nicandro Durante is the new chairman and Pietro Labriola (pictured) the new CEO, replacing João Cox and Sami Foguel, respectively. Foguel had only been appointed CEO last July.
TIM did not explain the reasons for the changes, but both men were said to be close to Amos Genish, the former Telecom Italia CEO who lost his job last November amid a dispute between controllers Vivendi and Elliot Management.
There are also market rumors that Telecom Italia was displeased with the Brazilian leadership after rival América Móvil's Claro Brasil beat out TIM in the dispute for Nextel.
Italia-born Labriola was COO at TIM Brasil between 2015 and 2018. He has had a seat on the company's board since February, which he will continue to occupy as CEO.
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