Telex Names New Chairman
Bnamericas Published: Tuesday, January 08, 2002
Chilean long distance operator Telex (NYSE: TL) has named Juan Pablo Roman as chairman, replacing Jorge Awad, who stands down after the company's late-December decision to transfer control to US-based investment funds Southern Cross and GE Capital. "I have completed my mission because the ownership has been restructured and the ownership base has been widened [at Telex]," Awad said, quoted in local press. Awad took over as chairman a year ago as a representative of the company's creditors, who control 51% of its shareholding, after Chile's Ibanez and Radic families had allowed debts to grow to US$220mn. Roman is a lawyer who represents the Bank of America, one of Telex's principal shareholders.
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