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December 3, 2007 |
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TAM SA: Marco Antonio Bologna Resigns as Chief Executive Officer TAM S.A., in compliance with the provisions in article 12 of Comissao de Valores Mobiliarios Rule 358/02, informs its shareholders and the market in general that Marco Antonio Bologna resigned as the company's Chief Executive Officer position on Nov. 28, 2007, to join TAM Empreendimentos e Participacoes S.A.'s holdings, a company belonging to the company's controlling bloc, as special advisor. Captain David Barioni Neto, former Vice-President of Operations, has been appointed new CEO. Captain Fernando Sporleder Junior has been appointed Vice-President of Operations. The changes were approved by the Board within the succession process initiated March this year by TAM SA. About TAM SA TAM SA (Bovespa: TAMM4 and NYSE: TAM) -- http://www.tam.com.br/ -- operates regular flights to 47 destinations throughout Brazil. It serves 72 different cities in the domestic market through regional alliances. Additionally, it maintains code- share agreements with international airline companies that allow passengers to travel to a large number of destinations throughout the world. TAM was the first Brazilian airline company to launch a loyalty program. The program has over 3.3 million subscribers and has awarded more than 3.6 million tickets. * * * As reported in the Troubled Company Reporter-Latin America on Aug. 27, 2007, Standard & Poor's Ratings Services affirmed its 'BB' long-term corporate credit rating on Brazil-based airline TAM S.A. S&P said the outlook is stable. |
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