The board of directors of Oi decided not to renew the contract of the company's CEO, Rodrigo Abreu, which is set to expire at the end of this month. In his place, board member Mateus Affonso Bandeira was proposed. Bandeira currently serves as an independent member on the company's board of directors and leads the people, nominations, and governance committee.
However, Abreu will continue as a member of the board of directors and actively participate in negotiations with creditors for the restructuring of a new Judicial Recovery Plan that is expected to be presented by the end of this month.