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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
12/15/201413:16:41Oi CEO Says Company Better Positioned for Brazilian Consolidation
11/21/201419:56:34American Tower to Buy Tim Celular Brazil Towers for About $1.2...
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/30/201412:43:05Brazil's Government Raises Less Than Expected From Auction of...
09/30/201410:51:10TIM Pays Small Premium At Brazil's 4G Auction -- Market Talk
09/23/201417:53:43Brazil's Oi Won't Participate in Country's Airwave Auction
08/28/201418:05:53ADR Shares End Lower; Oi Shares Active
08/27/201417:35:55Rally in European Stocks Halts
08/21/201407:32:00Brazilian Court Gives Green Light to Airwaves Auction Process
08/19/201408:25:49Telecommunication-Tower Operator T4U Plans IPO in Brazil
08/14/201418:50:23ADR Shares End Higher; Gol Shares Trade Actively
08/13/201417:35:08ADR Shares End Mixed; Petroleo Brasileiro Shares Trade Actively
08/01/201407:26:03TIM Participacoes Second-Quarter Profit Down on Debt-Service...
06/18/201417:07:21ADR Shares End Higher
06/16/201405:45:05Mediobanca to Withdraw From Telco
04/15/201407:17:56Brazil Telecom Italia Unit Looks Into Selling Telecommunications...
02/18/201410:53:22Correction to Telecom Italia CEO Article
02/18/201410:12:22Telecom Italia CEO: No Discussion About Sale of TIM Brazil
02/14/201409:06:14Brazil Mobile-Phone Company TIM 4Q Profit Rose; Revenue Growth...
01/27/201409:56:36Brazil Mobile Phone Sales Rise Less In December; Vivo Loses Ground

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