Telecom Italia Said to Be Close to Picking CEO for Brazil's Timby
Company veteran De Angelis may be appointed this week
Latin American mobile-phone business may face 1,000 job cuts
Telecom Italia SpA is close to naming a veteran manager as chief executive officer of its Brazilian unit, a move intended to boost efficiency and get more direct control from Italy in its second-largest market, three people familiar with the matter said.
Stefano De Angelis, 48, who currently runs Telecom Italia’s consumer business unit, is the leading candidate to replace Rodrigo Abreu as CEO of Tim Participacoes SA, the people said, asking not to be identified because the matter is private. Milan-based Telecom Italia also is considering naming Abreu as chairman of Tim Brasil, one of the people added. The appointments may be announced as soon as this week.
A final decision on the next Tim Brasil CEO hasn’t been made, and Telecom Italia may still choose another candidate, the people said. A company spokesman declined to comment.
De Angelis joined Telecom Italia in 1997 and took over responsibilities for administration, finance and accounting at Tim Brasil in 2004. In 2008 he was appointed head of planning and accounting for wholesale services at Telecom Italia. In 2013 he was promoted to CEO of Telecom Argentina SA.
The Brazilian unit plans to fire about 8 percent of its workforce in a first step to lower costs at the country’s second-largest wireless carrier, two people familiar with the matter said in February. The staff reduction would affect about 1,000 full-time white-collar positions, the people said, asking not to be identified because the information isn’t public.