NII Holdings to Split Roles of Chairman and CEO

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NII Holdings which operates Nextel branded networks in Latin America has shaken up its board of directors and decided to split the roles of Chairman and CEO.

The move is not unexpected as the Board has been carrying out a review of the situation since earlier this month when it announced that its Chairman, Steven M. Shindler would be taking on the role of CEO as well.

Kevin Beebe has been named to serve as its independent, non-executive chairman effective May 22, 2013. Mr. Beebe has been a member of the Board since 2010 and president and chief executive officer of 2BPartners, a strategic and financial advisory firm, since 2007.

With the election of Mr. Beebe as the independent, non-executive chairman, Carolyn Katz will no longer serve as lead independent director. She will continue as a director and chair of the audit committee. Mr. Shindler will also continue to serve as a member of the Board.

In addition, Ricardo Knoepfelmacher has been elected to NII's Board of Directors.
Mr. Knoepfelmacher co-founded Angra Partners, a financial advisory and private equity firm, in 2003. Prior to his service as managing partner at Angra Partners, Mr. Knoepfelmacher served as chief executive officer of Brasil Telecom from 2005 to 2009 and chief executive officer of Pegasus Telecom from 2000 to 2002.

"With these latest actions, we continue to improve upon our corporate governance structure, ensuring that our Board of Directors provides strategic oversight for management and represents the interests of our stockholders," said Mr. Shindler.

Following the election of directors at the annual meeting and the election of Mr. Knoepfelmacher, NII's Board consists of nine directors, eight of whom are independent.

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