Brazil's Totvs says executive Kede resigns

miércoles 6 de enero de 2016 07:06 GYT

SAO PAULO Jan 6 (Reuters) - Totvs SA, the largest Latin-American producer of enterprise software, said on Wednesday that Director-President Rodrigo Kede had resigned due to health problems.

Totvs said in a filing that it had planned for Kede to succeed Laercio Cosentino as CEO, but that Cosentino would continue in that role for now.

Totvs agreed in August to buy Brazilian rival Bematech SA for about 556 million reais ($139 million) in cash and stock, creating a company whose software will cater to more than half the restaurants, retailers and hotels in the country.

($1 = 4 reais) (Reporting by Caroline Stauffer; editing by Jason Neely)