Embratel Hires New Leadership
The proud new owner of Brazilian long-distance carrier
Embratel Participações has hired Carlos Henrique
Moreira as the company's new president. Telmex, the Mexican
telecom giant, announced the appointment after Brasília
approved its acquisition of Embratel from MCI. Moreira already
works at Claro, a cellphone operator owned by Telmex. The
company also picked José Formoso Martínez to be
Embratel's chief executive officer. He was previously vice
president for Latin America at Telmex. The two will formally
start work at Embratel once the acquisition closes, expected
for the end of July. Telmex bought Embratel from MCI, in March,
paying $403.4 million. The acquistion gives the Mexican company
a firm foothold in South America.
Ecuador Appoints New Finance Minister
Ecuadorian President Lucio Gutiérrez chose Central Bank
President Mauricio Yepez as his latest finance minister after
Mauricio Pozo resigned in...
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