TEF O2 CR has anounced that current CFO Juray Sedivy will be heading up TEF O2 Slovakia. Ramon Ros, Chief Business Development Officer (and ex-Eurotel CEO), will then assume CFO responsibilities at TEF O2 CR.
Our view:
Mr Sedivy has built a solid track record in CR and his skills will come in handy in building up the Slovakian mobile business. Given the uncertainty over capex and opex requirements in the Slovak operations, we believe that Mr Sedivy's leadership will be viewed positively by the market. We maintain our Hold recommendation.