Portugal Telecom, SGPS S.A. announced that company meeting held on April 20, 2015 has elected Mr. Flavio Nicolay Guimarães was to the position of chief financial officer and investor relations officer, assuming responsibility for the office of corporate finance. Mr. Marco Norci Schroeder was elected to the position of executive officer, assuming responsibility for the office of financial administration. Mr. Guimarães has substantial experience in financial markets, and has had a career in both domestic and international business finances.

Mr. Guimarães joined Oi in May 2010 in the Financial Development and Administration department, and was named treasury officer on November 1, 2013, a position he has held to this date. Mr. Schroeder developed a career in telecommunications, and is currently an executive officer of PT Portugal.