4iG Splits Strategic, Operational Management

Telco

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Listed IT company 4iG on Wednesday said its board decided to separate coordination of its strategy and day-to-day operations and create an independent CEO position, state news wire MTI reports.

As a result of the management reorganization, which serves "to coordinate business and integration processes, as well as more effectively support the telecommunications and IT divisions", chairman-CEO Gellért Jászai will remain chairman, while Péter Fekete will be appointed 4iG's new CEO, 4iG said in an announcement posted on the website of the Budapest Stock Exchange.

"The new corporate governance model will underpin 4iG's growth plans, the integration processes of its telecommunications and IT divisions, as well as the identification and implementation of synergies," 4iG said in a separate press release.

"We have acquired numerous large companies with significant capabilities, combining highly complementary key competencies in the sector, currently employing 6,200 people in three countries and comprising 16 major member companies. A key element of our operating strategy is to ensure that our member companies not only perform well individually, but also as a group, and with greater efficiency in terms of business performance, supporting our continued dynamic growth," Jászai said.

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