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Nextel Brazi President Leaves with Immediate Effect

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NII Holdings which operates Nextel branded services in Latin America has announced the immediate departure of Sergio Borges Chaia, the President of the Company's Brazilian subsidiary, Nextel Brazil.

The company did not explain the reasons for the sudden announcement, although the statement issued by the company hints at a disagreement about the future plans for the company.

Gokul Hemmady, NII's chief operating officer, will now spend the majority of his time, along with Claudio Hidalgo, Nextel Brazil's chief operating officer, and the local leadership team, overseeing the Company's operations in Brazil until a successor to Mr. Chaia is named.

"We have decided to move forward in a new direction to ensure Nextel Brazil is able to execute on its goals and deliver results," said Steve Dussek, NII Holdings' chief executive officer. "We thank Mr. Chaia for the time devoted to Nextel Brazil during the past several years and wish him the best in his future endeavors."

The Company will conduct a search to identify a new president for Nextel Brazil.

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Tags: nii holdings  Brazil