O2 Czech Republic chairman to exit role on Dec. 31

O2 Czech Republic chairman, Luis Malvido, will leave his role and the company on December 31 this year, as a result of its takeover by PPF Group.

In November last year, private equity company PPF Group made a successful €2.5 billion bid to acquire a controlling stake in Telefónica’s Czech subsidiary, and in August this year, PPF said it may split the company into two separate businesses.

Argentinean Malvido was replaced as chief executive at the company six months ago by Tomas Budnik, but will exit the company entirely at the end of the month.

Tomas Kouril, chief financial officer at the company, will join the O2 Czech Republic board on January 1, and directors will then choose a new chairman from its existing pool of executives. 

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