Saba announced at a press conference September 12 that he would be resigning from his posts at Azteca television and soccer to pursue other interests, despite assurances from the company in July that he would continue in his post as executive president.
The Saba family invested with Chairman and CEO Ricardo Salinas Pliego in 1993 when he purchased the assets that became TV Azteca. However, Moises' father Alberto Saba unwound most of the family's stake last month, reducing the holding to a mere 7.4%.
The senior posts at TV Azteca of CFO/vice president of finance, executive vice president of production, and vice president of marketing and programming are unchanged in the restructuring.
Among the appointments, Azteca has named Gustavo Guzman as executive president of human resources, communication and special shows. Joaquin Arrangoiz is appointed vice president of sales and promotions. Jorge Mendoza is now executive president of information and public affairs. Jose Ignacio Morales is executive president of operations, administration, local channels and Central America, and is charged with the development of TV Azteca in Central and South America.
Part of the company's proceeds from its public flotation last month were earmarked for acquisitions outside Mexico.
Copyright September 1997, Crain Communications Inc.