Varig Shuffles Senior Ranks

Henrique Neves has replaced Carlos Luiz Martins as executive president of Varig as the Brazilian carrier shuffles its senior ranks ahead of a restructuring. In moves designed to broaden its ties to business and government, it has also installed a new chairman and added new board members.

The first sign that Martins might leave came when he and Luiz Fernando Wellish, Varig's financial director, resigned from the governing council of Ruben Berta Foundation (FRB), Varig's principal owner. According to reports, Martins quit the FRB after a dispute with other directors over selection of an equity investor for Varig (see p19).

Neves, his replacement, lacks airline experience, but has a background in petroleum and communications. Varig's new chairman, David Zylbersztajn, is also from the petroleum industry. He is the former president of ANP, Brazil's national petroleum agency.


Source: Airline Business