(Alliance News) - Zegona Communications PLC said Friday its investee Euskaltel SA hired a new chief financial officer on Thursday.
Zegona's principal asset is its ownership of Spanish telecommunications provider Euskaltel, where it is the largest shareholder, owning more than 20%.
Spanish telecommunications provider Euskaltel hired Angel Olabuenaga Buron as its new CFO after Jon Ander de las Fuentes announced he was stepping down from the role.
"This development continues the process of creating a stronger and more agile leadership for the business which Jose Miguel Garcia commenced on his arrival as CEO in June 2019," Zegona said.
Buron has more than 19 years of experience in multinational businesses, Zegona said. He was most recently as CFO for Danish wind turbines manufacturer Vestas AS's Latin America operations.
Zegona Chair & Chief Executive Eamonn O'Hare said: "We see Angel's arrival as a very positive sign for Euskaltel. We expect his strong operational finance experience will provide valuable support to Jose Miguel and the rest of the management team as they continue to build on the momentum they have already demonstrated in transforming Euskaltel into a more operationally focussed business."
Shares in Zegona were untraded in London on Friday but last closed at 116.20 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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Zegona Com (ZEG)