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NII Holdings Announces Corporate Governance Changes

Stocks in this article: NIHD

RESTON, Va., May 23, 2013 /PRNewswire/ --   NII Holdings, Inc. (NASDAQ: NIHD), a provider of differentiated mobile communications services operating under the Nextel brand in Latin America, announced today that its Board of Directors has approved changes pertaining to its corporate governance at meetings held in conjunction with its annual meeting of stockholders in Mexico City on May 22, 2013.

(Logo: http://photos.prnewswire.com/prnh/20110919/FL70458LOGO)

After careful consideration, the Board determined that it was in the best interests of the Company to separate the positions of chairman of the Board and chief executive officer and has elected director Kevin Beebe to serve as its independent, non-executive chairman effective May 22, 2013.  Mr. Beebe has been a member of the Board since 2010 and president and chief executive officer of 2BPartners LLC, a strategic and financial advisory firm, since 2007.  He has extensive telecommunications experience, serving as group president of operations at ALLTEL Corporation from 1998 to 2007 and as executive vice president of operations for 360 ° Communications Co. from 1996 to 1998.  With the election of Mr. Beebe as the independent, non-executive chairman, Carolyn Katz will no longer serve as lead independent director.  She will continue as a director and chair of the audit committee. Mr. Shindler will also continue to serve as a member of the Board.

In addition, Ricardo Knoepfelmacher has been elected to NII's Board of Directors.Mr. Knoepfelmacher co-founded Angra Partners, a financial advisory and private equity firm, in 2003.  Prior to his service as managing partner at Angra Partners, Mr. Knoepfelmacher served as chief executive officer of Brasil Telecom from 2005 to 2009 and chief executive officer of Pegasus Telecom from 2000 to 2002.  He also worked for Citibank and McKinsey & Company before starting his first company, MGDK & Associados, a restructuring and consulting firm later sold to Monitor Group.  His background in telecom and in working with companies to maximize their growth potential will be an important asset for the Board of NII.

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