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Telefonica taps Gilperez as CEO of Brazilian unit

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CIOL Bureau
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BRASILIA, BRAZIL: The Brazilian unit of Spain's Telefonica on Tuesday appointed Luis Miguel Gilperez chief executive of local operations, which include the country's largest mobile phone company Vivo and fixed-line operator Telesp.

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In a market filing, the local unit of Telefonica said Gilperez will handle the day-to-day operations and report directly to the boards of Vivo and Telesp, while Antonio Carlos Valente will remain the president of Grupo Telefonica in Brazil, handling the company's long-term strategy.

Under Gilperez, Vivo's current vice president of operations, Paulo Cesar Teixeira, will oversee the individual and residential segments of the overall cellular and fixed-line business, while Mariano de Beer, acting director general of Telesp, will manage the company's corporate client portfolio.

Spain's Telefonica agreed in July 2010 to buy Portugal Telecom's stake in Vivo for 7.5 billion euros, becoming the controlling shareholder of the Brazilian wireless company.

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Also read: Telefonica faces tight vote over Vivo

With the integration of Vivo, Telefonica has become the leader in the telecommunications market in Brazil, Latin America's biggest economy. It boasts 76 million clients and net revenues of 36 billion reais in 2010.

On May 4, Vivo said its chief executive Roberto Lima would resign and leave the company.

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