Libano Barroso Confirmed as President of TAM

Libano Barroso Confirmed as President of TAM

The Board of Directors of TAM S.A. (NYSE:TAM) (NYSE:and) (NYSE:Bovespa:) (NYSE:TAMM4) has recently confirmed, the executive Libano Miranda Barroso as Director President of TAM S.A. and TAM Linhas Aereas. Barroso had previously earned the titles of interim president as well as Vice President of Finance, Management and IT since the departure of Commander David Barioni Neto on October 9 of this year.

Barroso first came to TAM in 2004, when he assumed the positions of Vice President of Finance and Management, and Director of Investor Relations, where he played a major role in the company’s IPO.

He was one of the strategists for the project of transforming TAM into a group of multi-businesses aligned with aviation, such as the recently announced customer loyalty initiative Multiplus Fidelidade.

With a solid background in finance, an area where he worked for more than 20 years, he has worked at the Real, Nacional and Safra banks. He established a distinguished career at large companies such as Andrade Gutierrez Concessoes on its Project Finance team. Prior to his arrival at TAM, he held the position of Director of Finance and Investor Relations for Companhia de Concessoes Rodoviarias (CCR), where he was in charge of the company’s IPO, which was the first to take part in Bovespa’s Novo Mercado (New Market).

Barroso is an economist who earned his degree from the School of Economic Sciences at the Universidade Federal de Minas Gerais (UFMG), in addition to an MBA in Finance from IBMEC and post-graduate study in Business Law at the Fundacao Getulio Vargas (FGV). At TAM, he has twice been elected best Chief Financial Officer (CFO) for Brazil’s sector of Aerospace, Transport and Industry by the U.S. publication Institutional Investor Magazine.

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According to Maria Claudia Amaro, president of the Board of Directors at TAM S.A., Libano Barroso “is the right president at the right time. He has recognized experience in the area of finance, and, as a manager, he is significantly focused on costs. He is exactly what the company needs at this moment when excellent prospects for growth have been forecast.”

“Libano knows TAM as few others do, and he is perfectly integrated with the group culture. To us, increasing the worth of the company is always grounds for satisfaction. And,” she underscored, “we found the best candidate to meet our goals for growth and service excellence right here in the company.”