December 20, 2016 / 10:58 PM / 2 years ago

Brazil's Cemig to name Salomao as CEO, replacing Borges

BRASILIA, Dec 20 (Reuters) - Cia Energética de Minas Gerais SA will appoint Bernardo Salomao as its new chief executive officer as part of its management overhaul to speed up a debt-reduction plan, a source familiar with the plan told Reuters on Tuesday.

Cemig’s board, as well as the state of Minas Gerais, the company’s biggest stakeholder, has mandated Salomao with regaining the utility’s ability to invest in power generation, transmission and distribution, said the person, who asked for anonymity because the decision remains private.

Reuters first reported on the departure of Cemig’s current CEO, Mauro Borges, on Sunday. The formal announcement will likely take place on Wednesday, the source said. (Reporting by Guillermo Parra-Bernal; Editing by Dan Grebler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below