SAO PAULO, Nov. 3 /PRNewswire-FirstCall/ -- GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, announces an organizational restructuring designed to streamline business management and reduce the number of Vice-Presidents. The initiative is a response to the Company's rapid growth in recent years and is aligned with its strategic objectives. All the decisions were taken in accordance with the strictest standards of governance and with the participation of the Board of Directors throughout.

Under the new organizational architecture, the Company's Chief Financial Officer, Leonardo Pereira, who is in charge of Finance, Controls and Investor Relations, will also be head of the Technology, Business Development and Strategic Planning departments. His new area will be entitled Finance, Strategy and Information Technology.

The Marketing and Services Vice-Presidency will be renamed Market and will comprise the Cargo, Commercial, Corporate Communications, Marketing, Yield Management and Alliance departments. Until this process is complete, the department heads under the new Vice-Presidency will report directly to the CEO.

The position of Vice-President - Information Technology and Planning will cease to exist due to the redistribution of its areas.

Additionally, Ricardo Khauaja, who is currently head of Management & Personnel, will be named Vice-President - Customers, Employees and Management, a position that will include People (Human Resources) & Management, as well as the Customer Service, Airport and Commercial Crew areas.

The Technical area, led by Captain Fernando Rockert de Magalhaes, remains unchanged.

Due to the extinction or change in profile of certain areas, the current Vice-Presidents Wilson Maciel Ramos (IT & Planning) and Tarcisio Gargioni (Marketing and Services) will be leaving the Company, as are Marco Antonio Piller, head of Airports, and Francisco Eustaquio Mendes, head of Maintenance, who were succeeded by Alberto Correnti and Sydnei Casarini, respectively. Ramos, Gargioni, Piller and Eustaquio are all highly competent professional who have made an invaluable contribution to the carrier's growth, for which they deserve the Company's recognition and gratitude.

There will be no changes to the structure or heads of other areas, except that those that have been reallocated will be reporting to a different Vice-President.

About GOL Linhas Aereas Inteligentes S.A.

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4), the largest low-cost and low-fare airline in Latin America, offers around 800 daily flights to 49 destinations that connect all the important cities in Brazil and ten major destinations in South America and Caribbean. The Company operates a young, modern fleet of Boeing 737 Next Generation aircraft, the safest and most comfortable of its class, with high aircraft utilization and efficiency levels. Fully committed to seeking innovative solutions through the use of cutting-edge technology, the Company - via its GOL, VARIG, GOLLOG, SMILES and VOE FACIL brands - offers its clients easy payment facilities, a wide range of complementary services and the best cost-benefit ratio in the market.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL's management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in GOL's filed disclosure documents and are, therefore, subject to change without prior notice.

SOURCE GOL Linhas Aereas Inteligentes S.A.