This excerpt taken from the TAM 6-K filed Apr 27, 2007.
TAM revisits Board of Directors
Maria Cláudia Amaro assumes as chairman and
Pedro Parente substitutes Henri Philippe Reichstul
São Paulo, April 27, 2007 At the General Ordinary Meeting held today at TAMs (Bovespa: TAMM4 e NYSE: TAM) headquarters in São Paulo, Maria Cláudia Oliveira Amaro Demenato was elected Chairman of the Board of Directors of the Company substituting Noemy Almeida Oliveira Amaro, who remains as a member of the Board. Maurício Rolim Amaro was elected the vice-chairman. The independent members Luiz Antônio Corrêa Nunes Viana Oliveira, Waldemar Verdi Júnior, Roger Ian Wright e Adalberto de Moraes Schettert were reelected. Henri Philippe Reichstul leaves the Board and will be substituted by the engineer Pedro Pullen Parente.
The modifications observed in the chairman and vice-chairman levels are part of continuous process to demonstrate the commitment of the controllers to the company, to the development of the business, to management and to TAMs strategic plan. Maria Cláudia, Maurício and Noemy Amaro have been members of the Board for years and participate in the Committees to support the work of other members. With the changes promoted today, they reaffirm to the market and the investors their dedication to the Company, working for the Companys sustainability and growth.
Pedro Parente assumes as a member of the Board with a one year mandate. Currently, he is the vice-president of Rede Brasil Sul. He was a chief minister for the Civil House and Executive of the Brazilian Ministry of Finance in the period between 1994 and 2002. He was also a consultant for the IMF (International Monetary Fund).
Besides the modifications in the Board of Directors, the Meeting approved 2006 financial results, as well as the usage of proceeds.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 27, 2007
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.