Telecommunications cinvestor Zegona Communications said portfolio company Euskaltel Group had integrated three operating companies into one business. The move followed the appointment last month of Jose Miguel Garcia as Euskaltel's new chief executive. 'In his first month as CEO, Jose Miguel has made a fast start with significant progress in implementing a new plan for the business,' Zegona said. The restructure was designed to simplify operations and reduce costs. It involved hiring new staff but also cutting the senior executive team by 25%. 'This has created clearer accountability for results and a stronger and more agile leadership,' Zegona said. 'Jose Miguel is also creating a single technical platform, whilst integrating the sales strategies of the three brands, taking best practice from each and expanding the more efficient on-line/direct channels.'
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