Cosmote targets profit with new CEO

The Greek group Cosmote has changed the CEO of its Romanian subsidiary at a key moment, after the operator was supposed to capitalise on its accumulated client base and step into the black, despite tough competition on the market. The new general manager of the mobile telephony operator Cosmote Romania is Stefanos Theocharopoulos, 39, who has replaced Nikolaos Tsolas. Tsolas, who held the position for two years, quit his position for personal reasons, according to Cosmote. However, market sources say Tsolas’ replacement was directly linked with the appointment of the new CEO to the helm of the Cosmote group in September last year. “After Michael Tsamaz took over the position previously held by Evangelos Martigopulos, he started to form his own team of managers that run foreign subsidiaries. Macedonia was the first step,” said Cosmote sources. The company did not specify whether Tsolas would remain within the Cosmote group.