New management at Aerolíneas Argentinas: A radical change is underway at the top of state airline Aerolíneas Argentinas. Out goes president and general manager Mariano Recalde and a group of senior managers closely identified with La Cámpora, the youth wing of the Frente Para la Victoria (FPV) faction of the Peronist party, which was voted out of office in November. His critics accused Recalde of running the loss-making airline as a political fiefdom. In comes Isela Costantini, appointed by newly elected President Mauricio Macri to bring in some private sector management expertise. Costantini was previously CEO of GM Argentina and president of ADEFA, the association of Argentine automobile manufacturers. Aerolíneas has had a troubled history, being controversially privatised in 1990 and equally controversially re-nationalised in 2008. During the election campaign, President Macri denied claims he would launch a new privatisation attempt; instead, he said, the company would remain in public ownership and efforts would be made to run it more efficiently. This job now falls to Costantini, who takes over in January. Significantly, the Brazilian born Argentina executive, listed by Forbes in 2013 as one of the world’s top 50 business women, has a reputation as a tough negotiator. She will have to establish good relations with Aerolíneas multiple and often militant trade unions.
Odebrecht leaves Odebrecht: After six months in prison facing corruption charges linked to the “car wash” scandal centred on state oil company Petrobras, Marcelo Odebrecht has formally stepped down from his role as president and chief executive of Grupo Odebrecht, one of Brazil – and Latin America’s – largest civil engineering and construction companies. Marcelo, from the third generation of the family that founded and still controls the enterprise, also stepped down from a number of other companies in the group, including Braskem (petrochemicals) and other subsidiaries in oil and gas and real estate. The company has said it is confident that when the case comes to trial it will be cleared of any wrongdoing. But in November the federal police said it was widening its investigations to include the possible payment of bribes in construction contracts related to the 2016 Olympic Games in Rio de Janeiro. Odebrecht is reputed to be involved in half the Olympic Games construction contracts, measured by value.
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