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Eduardo Navarro to replace Amos Genish from January 2017.
Telefonica Brasil CEO Amos Genish has announced his resignation, and will leave the company by the end of 2016.
Genish co-founded Brazilian broadband operator GVT, and was serving as its chief executive when it was acquired by Telefonica in September 2014. He was named CEO of the combined company in March 2015, and his appointment became effective when the transaction closed in May of that year.
During his tenure, Genish oversaw the integration of GVT with Telefonica Brasil, which offers services under the Vivo brand.
"I am grateful for the honour of leading Telefonica Brasil during 2015 and 2016, and pleased to have been able to accomplish all the key objectives we had set for ourselves at the beginning of 2015. Today, thanks to its best-in-class management team, Telefonica Brasil is the absolute leader in the Brazilian telecom market," Genish said, in a statement on Sunday.
Taking his place is Eduardo Navarro, who currently serves as Telefonica’s chief commercial digital officer (CCDO) and chairman of Telefonica Brasil. As CCDO, Navarro is responsible for driving revenue growth globally at Telefonica, ensuring the best possible experience for consumer and enterprise customers, and evolving the Spanish incumbent’s channels.
His appointment as Telefonica Brasil CEO becomes effective on 1 January 2017.
"I am excited by the opportunities ahead and fully confident that, jointly with the excellent management team of Telefonica Brasil, we will be able to continue building on Telefonica Brasil’s strong foundation," said Navarro, who also thanked Genish "for his contributions and extraordinary achievements."
Indeed, such was Genish’s standing that Haitong Research said in an investor note that his departure."could cast some doubts in investors’ minds about the future performance of the company."
The brokerage’s research arm said it doesn’t expect any major change in strategy by Telefonica Brasil; however, "naturally the scrutiny will be strong in the coming quarters."
