Brazil's Oi says CFO Guimarães resigns

Mon Sep 12, 2016 8:51pm EDT
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RIO DE JANEIRO (Reuters) - Brazil's largest fixed line carrier Oi SA (OIBR4.SA: Quote), which is currently in bankruptcy protection, said on Monday that Chief Financial Officer Flavio Nicolay Guimarães resigned, without giving a reason for his departure.

Guimarães will be replaced by Ricardo Malavazi Martins, Oi said in a securities filing. As part of the move, Martins stepped down from his position on the board of Oi, the company said.

Martins previously worked at Brazilian bank Bradesco (BBDC4.SA: Quote) between 1990 and 2003 and as CFO for Petros, the pension fund for state-run oil company Petrobras (PETR4.SA: Quote), for six years.

(Reporting by Stephen Eisenhammer; Editing by Cynthia Osterman)

Consumers stand in front of an Oi store, Brazil's largest fixed-line telecoms group, in Sao Paulo, Brazil June 24, 2016.  REUTERS/Paulo Whitaker