Integratel Peru Shakes Up Leadership Amidst Ownership Transition
New CEO Appointed as Company Undergoes Strategic Realignment
Integratel Peru, formerly Telefónica del Perú, is seeing significant leadership changes following its acquisition by Integra Capital. The company has appointed a new CEO and expanded its executive team as it navigates a strategic restructuring.
Ariel Palumbo Takes the Helm
Ariel Palumbo has been named the new CEO of Integratel Peru, succeeding Elena Maestre. Maestre, who took over the leadership role in July 2023 after Pedro Cortez‘s departure, decided to step down to pursue new professional ventures.
The company highlighted Palumbo‘s extensive executive leadership experience, noting his recent tenure as CEO of Edemsa, an electricity distribution company in Mendoza, Argentina.
Executive Team Strengthened
In addition to the CEO transition, Integratel has welcomed Federico Zin as Executive Vice President. Zin will report directly to the presidency of the Board of Directors and brings a strong background in finance, debt structuring, reporting, and institutional relations. Previously, he served as a director at Edenor, Argentina’s largest electric distributor, and held financial management roles at Adeco Agro.
The company also announced the appointment of Juan Pons as Chief Operating Officer (COO). Pons brings significant international experience in profitable growth and business transformation, having served as general director for Latin America and Canada at companies like Wolverine Worldwide and VF Corporation.
Furthermore, María Isabel León, currently the President of Confiep, has joined the organization as Director of the Presidency Cabinet.
Internal Realignment Continues
Integratel is also implementing internal organizational changes. Germán Fernández, who previously led the Customer Technical Service Area (STC), will move to a new role as Director of B2B and OPT. The STC team will now fall under the Technology Department, led by Christian Livia, with an internal vacancy created to fill Fernández‘s former position.
Luis Acuña, the current marketing director, will assume the B2C address on an interim basis while a permanent appointment is finalized. Acuña possesses over two decades of experience in marketing and commercial management across various sectors.
The establishment of a new Finance Directorate has also been announced, with Juan Manuel Gesto appointed to lead it. This directorate will oversee treasury, fiscal matters, management, and accounting control.
Debt Restructuring Framework Established
In parallel to these leadership changes, Integratel has reached a temporary agreement with its controlling shareholder, Integra Tec International Inc., and a group of bondholders representing at least 60% of its outstanding debt. This understanding, reported to the Superintendence of Securities Market (SMV), aims to prevent legal actions between the parties.
The agreement provides a framework for orderly debt restructuring negotiations as Integratel navigates its ongoing ordinary bankruptcy procedure initiated with INDECOPI. For instance, in 2023, the telecommunications sector in Latin America saw significant investment, with Mexico’s AT&T raising $2.1 billion to refinance debt, showcasing the complex financial landscape companies operate within.