Following the firing of Eugenio Galdón, until now the President of Spanish cable operator Ono, in favour of new President José María Castellano, the new President has denied rumours over possible sale of the company.
These rumours have been motivated because the cable operator hasn't
resched its growth objectives over the last fex years. Richard Alden,
Ono's CEO, will continue in his post.
Lately Ono announced a restructuring in its personnel, sacking 1,300
employees or 30% of its workforce. The arrival of the new president
won't modify this strategic operation.
Castellano hopes once the restructuring is complete the company will have better cash flow both next year and 2010.
Eugenio Galdón's firing came because in the years of the economic boom
he did not take advantage of it in order to apply it to the company's
progress, according to the new President.
