December 23, 2014 / 9:00 AM / 5 years ago

Czech O2's chairman to leave on Dec 31 after takeover

PRAGUE, Dec 23 (Reuters) - O2 Czech Republic’s Chairman Luis Malvido will leave the company on Dec. 31 as part of changes stemming from its takeover by billionaire Petr Kellner’s PPF group earlier this year.

Tomas Kouril, the company chief financial officer, will join the board on Jan. 1 and the directors will then choose a new chairman from among their ranks.

Malvido, who was born in Argentina, served as chairman and chief executive until he was replaced by Tomas Budnik in the latter role six months ago.

Czech billionaire Kellner’s PPF holds 83 percent of the company after lifting its share through share purchases since it first acquired a 65.9 percent stake in the company from Spain’s Telefonica in January.

Reporting by Robert Muller; editing by Keith Weir

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