After nearly 12 years as head of the company, Nazi Khoury His role as President and Chief Executive Officer (CEO) of Liberty Puerto Rico has been terminated. Parent company Liberty Latin America (LLA) was confirmed.
In turn, the company announced that Eduardo Diaz Corona would replace him as general manager of Liberty Puerto Rico and the US Virgin Islands.
“Nazi has led the creation of a great business and culture in Puerto Rico and the U.S. Virgin Islands. “He has helped set the stage for a new phase of growth, which Eduardo will now help accelerate and take our operations to even higher levels,” LLA CEO Balan Nair said in writing.
It was not specified when Khoury would end his duties.
Khoury started at Liberty in 2010, when the executive came in to oversee the merger with local Internet provider OneLink Communications. In 2012, he was promoted to the role of President.
Since then, Has led expansion phases of the company, which has evolved from offering only a pay television and fixed Internet service to providing a full range of telecommunications services. For consumers, companies, government and institutions.
Prior to his work at Liberty, Khouri was a senior executive at local carrier Centennial, which was later acquired by AT&T.
Overall, Khouri has more than 30 years of experience as an executive in the telecommunications industry in Puerto Rico. In addition to his contributions to the company’s growth in Puerto Rico, under Khoury’s leadership, Liberty developed the company’s philanthropic arm, the Liberty Foundation, which has provided more than $7 million to nearly 90 non-profit organizations, locally and in the Virgin Islands, since 2017. Have donated.
Last August, Liberty reported that the company was continuing capital improvement programs across both its mobile and fixed networks and that it expected to add approximately 300 people to its workforce on the island.
As for Diaz Corona, he also has decades of experience in the telecommunications industry. Prior to this appointment, he was President of Tracfone Wireless, a company that was acquired by Verizon in 2021.
In statements sent to the press, the new executive praised Khoury’s work, saying that “an incredible foundation has been built and I know we will continue to grow the business by providing connectivity to more people in more places through our marketplaces.” You can take advantage of it. ,
“Our customers are the most important part of our business and Eduardo (Diaz Corona) will bring his deep operations experience to improve customer experience and value in the market. We look forward to a bright future for our business in Puerto Rico and the US Virgin Islands,” said CEO Nair.
LLA did not share the reasons for Khoury’s departure. However, the change in command comes as Liberty Puerto Rico looks to finalize the acquisition of spectrum and some 120,000 prepaid accounts from DISH Network in Puerto Rico and the Virgin Islands for approximately $256 million.
The leadership change also coincides with a difficult process of transferring customer accounts and systems inherited from AT&T to Liberty Puerto Rico platforms. It is the final step following the purchase of the AT&T operation, a transaction that was completed in November 2020 for $1.95 billion.
As reported by this medium, between September and November 2023, the migration caused service disruptions to an unspecified number of customers, lasting for days and even weeks in extreme cases.
Problems with the transfer process of AT&T customers to Liberty began to impact the company’s financial resultsAs reflected in LLA’s latest report to its investors, which corresponds to the July to September 2023 quarter.
Specifically, Liberty reported that “residential mobile revenue was down 10% compared to the same period last year.” A loss of 24,500 mobile subscribers was also recorded as of September 30, compared to the total reported as of June 30, 2023.
In the above report, it has been established that Liberty will complete the migration process in April 2024.
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