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Teka strengthens executive corps

Blumenau, Brazil — Family run textiles manufacturer Teka has brought in an outsider to steer the firm for the first time in the company's 77-year history. Arnim Lore assumes the title of ceo. He has held executive positions at unibanco, Petrobras, the Central Bank of Brazil, Villares and Varig.

Although members of the founding Kuehnrich family are giving up executive control, they will take on a more active role on the board of shareholders, according to a company announcement. The board also is being reorganized and will have a more prominent role in defining policy and strategy.

Joining the board is Clovis Carvalho, advisor to Brazil's former president and minister of economic development.

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