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Oi TelCom in Brazil Loses Two Top Executives Amidst Bankruptcy

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – A week after presenting its bankruptcy recovery plan, Brazilian telephone company, Oi, announced that its CFO had resigned. According to the company, which filed earlier this year for bankruptcy protection, Flavio Nicolay Guimaraes will be replaced by Ricardo Malavazi Martins, currently on the Board of Directors.

Guimaraes was the second executive linked to the company to resign on Monday. Earlier in the day, board member Marcos Grodetzky, also handed in his resignation.

Martins has previously worked at Brazilian bank Bradesco BBDC4and was CFO for Petros, the pension fund for state . . .

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