Cesky Telecom CEO replaced after Telefonica takeover

The chief executive of Cesky Telecom, Gabriel Berdar, credited with transforming the company, has been replaced as Telefonica of Spain has acquired the business. An annual meeting of Cesky Telecom shareholders on Thursday replaced Mr Berdar with Jaime Smith Basterra, chief financial officer at Telefonica, as well as nine out of fifteen members on the company's supervisory board. Last week, Telefonica paid 82.6 billion crowns (3.36 billion dollars) for the government's 51.1-percent stake in the Czech Republic's dominant land line operator.