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Mexican telecoms firm Axtel announces CEO Zubiran to retire

Reuters
·1-min read

MEXICO CITY, Jan 22 (Reuters) - Mexican telecommunications firm Axtel said on Friday its chief executive Rolando Zubiran is retiring after 22 years in the role, with an executive from parent company Alfa appointed as his interim successor.

Eduardo Escalante, Alfa's chief financial officer, will take over from Zubiran from Friday, it said.

Axtel sold its residential internet services unit in 2018 and is now dedicated to the government and business sectors. The board said one of the new CEO's main objectives will be attracting investors for the sale of the firm.

The company's shares have declined nearly 24% since mid-December after it announced plans to sell its two business units, infrastructure and services, separately. (Reporting by Abraham Gonzalez; Writing by Laura Gottesdiener; Editing by Jan Harvey)