Air Transport World

TAM-Varig.(TAM CEO resignation makes merger plans uncertain)(Brief Article)

TAM-Varig merger plans were thrown into uncertainty following the unexpected resignation of TAM CEO Daniel Mandelli Martin on Aug. 14, reportedly owing to conflict with the airline's major shareholder, Noemy Amaro, widow of the late CEO Rolim Amaro. A TAM statement said only that he had resigned for personal reasons and the merger would go forward, but Noemy, who holds 70% of the airline, is viewed to be lukewarm toward the deal at best, although she has not played an active role in the company's management. …

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