ETB in search of new president

Tuesday, August 23, 2011

Colombian capital Bogotá's municipal government has started working with the board of telecoms operator ETB on the selection process for a new company president after Fernando Carrizosa resigned last week, local paper La República reported.

Carrizosa, ETB's president since November 2009, resigned August 20 due to health problems, Bogotá mayor Clara López Obregón was quoted as saying. ETB's deputy manager, Mario Contreras Amador, will serve as interim president.

During his two years with ETB, Carrizosa led the fruitless effort to find a strategic partner for the company.

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Last month, Bogotá's city council rejected a proposal to privatize the municipal government's 86.6% stake in ETB, and decided to analyze new options for the company's future.

The new president is expected to resume the search for a strategic partner and to work on defining potential alliances with local and international telcos, as well as to analyze the option of expanding the company's portfolio, as suggested by market observers.