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TIM Brasil Says CEO Luca Luciani Has Resigned

SAO PAULO -(Dow Jones)- Luca Luciani, the chief executive of Brazilian mobile telephone company TIM Participacoes S/A (TIMP3.BR, TSU) has resigned due to a scandal over the use of irregular SIM cards. In a brief statement, TIM Brasil, as the company is also known, said that Luciani has resigned all his positions in the company and has left his positions at parent company Telecom Italia SpA (TIT.MI, TI, TIA). The company didn't provide a reason for the resignation. TIM Brasil's share price had slumped as speculation about Luciani's future swirled on Thursday and Friday. The executive is widely credited with having successfully turned around the Brazilian operations over the last two years with a series of innovative payment plans that shook up the Brazilian market. TIM Brasil said that its board of directors will meet soon to appoint Andrea Mangoni, the current chief financial officer of Telecom Italia, as interim chief executive of the Brazilian firm. -By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com

Stock News for Tim Participacoes (TSU)
DateTimeHeadline
04/24/201507:21:20Brazil Mobile-Phone Subscriptions Rise at Lower Pace in February
04/15/201516:50:54Report of Foreign Issuer (6-k)
04/15/201516:47:23Notice of Iran-related Disclosure Filed Pursuant to Section 13(r)(3...
04/15/201516:44:03Annual and Transition Report (foreign Private Issuer) (20-f)
04/15/201506:04:02Report of Foreign Issuer (6-k)
04/15/201506:04:02Report of Foreign Issuer (6-k)
04/10/201517:31:56Report of Foreign Issuer (6-k)
03/26/201507:56:29Telefonica Brasil plans $4B rights issue
03/16/201506:08:09Report of Foreign Issuer (6-k)
03/13/201507:41:45Report of Foreign Issuer (6-k)
03/13/201506:04:07Report of Foreign Issuer (6-k)
03/13/201506:04:07Report of Foreign Issuer (6-k)
03/12/201506:05:59Report of Foreign Issuer (6-k)
03/10/201506:05:23Report of Foreign Issuer (6-k)
03/09/201517:30:19ADR Shares End Mixed; WPP Shares Rise
03/09/201508:29:35Brazil Mobile-Phone Subscriptions Rise in January
02/23/201508:34:19Report of Foreign Issuer (6-k)
02/20/201518:01:21ADR Shares End Higher; National Bank of Greece Trades Actively
02/20/201512:28:06Correction to Telecom Italia Update
02/20/201512:14:32Correction to Telecom Italia Update

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