A1 Telekom Austria’s biggest shareholders America Movil and state-owned investment fund Osterreichische Beteiligungs nominated two executives to head up its tower spin-off, which is edging closer to being finalised.

The companies nominated Ivo Ivanovski, currently head of international regulatory and European affairs at A1 (pictured), as future CEO and finance expert Lars Mosdorf as CFO, subject to board approval.

It announced the appointments as it moves to diversify the assets into a separate entity.

A1 expects the spin-off to be listed on the Vienna Stock Exchange during the second half.

Ivanovski held his current role at A1 since 2016, after a one-year stint as head of government and regulatory affairs for Europe at America Movil.

He has also held senior positions in international institutions, including as commissioner of the ITU’s Broadband Commission for Digital Development and Minister of Information Society and Administration for Macedonia’s government.

Ivanovski will “co-lead the necessary preparatory work” to spin-off the tower business with Mosdorf, who was most recently CFO at Dusseldorf Airport.

A1 touted Mosdorf’s history of working in senior management roles, including as CFO and deputy general director at Russia-based investment management company Northern Capital and airport business Fraport.

The operator noted an extraordinary shareholder meeting for the spin-off is due in the coming months.