Rumors surface about replacing Lattelecom CEO

  • 2006-05-24
  • From wire reports
RIGA - The Scandinavian concern TeliaSonera has approached Latvian officials about replacing the CEO of Latvia's fixed-line company Lattelecom, the Neatkariga daily reported on May 21. According to the newspaper, TeliaSonera reproached Lattelecom CEO Nils Melngailis for his inflexible decision-making and the company's "modest revenues." In order to remove a CEO, the company council must agree on the matter. Therefore, as the Latvian state holds 51 percent in Lattelecom, TeliaSonera (49 percent) can't remove Melngailis unless representatives of Latvia's council support the decision. Wh...
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