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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
05/23/201606:03:28Report of Foreign Issuer (6-k)
05/19/201606:06:58Report of Foreign Issuer (6-k)
05/18/201609:14:00Why are Investors Doing Their Due-Diligence on These Stocks?...
05/12/201608:05:37Report of Foreign Issuer (6-k)
05/12/201607:40:45Report of Foreign Issuer (6-k)
05/12/201607:18:37Report of Foreign Issuer (6-k)
05/12/201606:09:27Report of Foreign Issuer (6-k)
05/12/201606:09:27Report of Foreign Issuer (6-k)
05/11/201606:08:04Report of Foreign Issuer (6-k)
05/10/201606:21:46Report of Foreign Issuer (6-k)
05/02/201608:26:33Report of Foreign Issuer (6-k)
05/02/201607:39:00Brazil Mobile-Phone Subscriptions Decline in March
04/28/201606:15:15Report of Foreign Issuer (6-k)
04/25/201609:13:00Brazil's Oi Starts Talks to Restructure Debts
04/14/201617:07:33Report of Foreign Issuer (6-k)
04/14/201617:06:15Notice of Iran-related Disclosure Filed Pursuant to Section 13(r)(3...
04/14/201617:02:47Annual and Transition Report (foreign Private Issuer) (20-f)
04/11/201606:03:31Report of Foreign Issuer (6-k)
03/21/201606:04:05Report of Foreign Issuer (6-k)
03/17/201606:09:30Report of Foreign Issuer (6-k)

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