Brazil’s TAM S.A., the holding company of TAM Airlines, has approved a change in top management to prepare for its merger with LAN Airlines, expected at the end of March (ATW Daily News, Jan. 16).
Líbano Barroso, TAM Airlines CEO since October 2009, has stepped down to fill his former position of CFO and Investor Relations director at the holding company.
Marco Antonio Bologna, CEO of TAM S.A., is now also CEO of TAM Airlines. When the merger is complete, Bologna will remain CEO of both the holding company and TAM Airlines while Barroso becomes the CFO of LATAM Airlines Group, the holding company to rise from the merger.
In an announcement, Bologna said Barroso will play a key role in restructuring TAM “for the integration with LAN, as soon as all necessary requirements for the merger are completed.”