Grupo Iusacell names Peter Burrows pres, director general
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BridgeNews Bulletins via NewsEdge Corporation : New York, April 24 (BridgeNews) - Grupo Iusacell S.A. named Peter H. Burrowes president and director general. Burrowes succeeds Fares Salloum, who will continue as chief executive and chairman.
--Adur Pradeep, BridgeNews
The following is the text of today's announcement with emphasis, added by BridgeNews. BridgeStation links to company data have been inserted at the end:
Peter H. Burrowes Named President of Iusacell
MEXICO CITY--(BUSINESS WIRE)--April 24, 2001--GRUPO IUSACELL, S.A. DE C.V. (BMV:CEL, NYSE:CEL) ANNOUNCED TODAY THE APPOINTMENT OF PETER H. BURROWES AS PRESIDENT AND DIRECTOR GENERAL. THE APPOINTMENT IS EFFECTIVE IMMEDIATELY.
At the same time, Iusacell appointed three other new executives to its senior management team.
BURROWES, A CO-FOUNDER AND FORMER PRESIDENT AND CHIEF EXECUTIVE OF COMCEL, THE LARGEST CELLULAR TELEPHONE COMPANY IN COLOMBIA, SUCCEEDS FARES SALLOUM, PRESIDENT-INTERNATIONAL, THE AMERICAS FOR VERIZON. SALLOUM, WHO HAD BEEN SERVING AS IUSACELL'S INTERIM PRESIDENT AND DIRECTOR GENERAL, WILL CONTINUE TO SERVE AS CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD.
"Peter Burrowes is superbly qualified to lead Iusacell to the next level of its development, which is to grow from a regional company to a national provider capable of dominating the market," Salloum said. "He not only has a strong background in telecommunications, marketing and finance, but he also has extensive experience in leading a variety of companies in Latin America to their full potential. We are delighted to have him join us."
Burrowes said: "I am delighted to have the opportunity to lead Iusacell at such an important point in its history. My number one goal is to enable the company to continue to expand while achieving sustained, profitable growth. I am eager to begin, and I look forward to coming to Mexico."
Burrowes, a native of Cali, Colombia, joined COMCEL in 1994, shortly after it had received an operating license. During his nearly seven years as president and CEO, COMCEL expanded rapidly, acquiring Occel, the leading company in Colombia's second-largest cellular region. In 1998, Latin Finance magazine named COMCEL as one of the five best-managed companies in Latin America, and in 1999, Dinero magazine named COMCEL as the "Most Creative Company" in Colombia. Today, COMCEL has more than 1,800 employees, 1 million customers, a 53 percent market share and annual revenues of US$312 million.
From 1987 to 1993, Burrowes served as general manager of Givaudan Roure S.A., a Colombian subsidiary of Hoffman La Roche. The subsidiary, which had been on the brink of bankruptcy when Burrowes joined, grew rapidly under his leadership to become profitable as well as the second-largest company in its field in Colombia in just three years.
From 1984 to 1987, he served as finance and administration manager for Borden S.A. in Colombia and diversified the company by creating a consumer goods division and launching a variety of new products. He also served as financial manager of the Andean Region for General Foods International and established the company in Colombia, Ecuador and Peru.
The other new executive appointments announced today are:
Juan Carlos Merodio, senior vice president-regulatory affairs and general counsel. An attorney for more than 20 years, he previously served as president of TMM Group and before that as president of Grupo
Servia, S.A. de C.V. He has also served on the boards of directors of Aeromexico and Mexicana.
Koren M. Borges, senior vice president-marketing, will lead Iusacell's marketing, advertising and public relations teams. For the past seven years, Ms. Borges has held international marketing positions with Vodafone Group Plc and AirTouch International.
Andrew G. Hunkin, vice president-data. For the past two years, he has been general manager and director of data communications for the Puerto Rico Telephone Company, a Verizon affiliate, and has more than eight years of experience in the data business.
"We now have a great senior management team in place," Salloum said. "It has the knowledge, experience and dedication to build on Iusacell's past accomplishments, to increase the company's focus on customer care and marketing and to ensure profitable growth."
Grupo Iusacell, S.A. de C.V. (Iusacell, NYSE:CEL; BMV:CEL) is a leading independent telecommunications company in Mexico. It provides wireless cellular service in four of Mexico's nine regions in the central portion of Mexico (including Mexico City) covering a total of 68 million
POPs, representing approximately 69% of the country's total population. In addition, it holds concessions to provide wireless PCS services in regions 1 and 4 in the northern part of the country. Iusacell is under the management and operating control of subsidiaries of Verizon Communications Inc. (NYSE:VZ).
CONTACT: Grupo Iusacell, S.A. de C.V.
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<<BridgeNews Bulletins -- 04/25/01>>
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Solange Massimi, 525/109-5774
Director, Public Relations and Corporate Communications
solange.massimi@iusacell.com.mx |
