16.10.2013 • News

Brazil’s OGX Fires CEO, 2nd Executive in Restructuring Push

OGX Petróleo e Gas Participações fired Chief Executive Luiz Carneiro as part of a corporate restructuring plan, a source with direct knowledge of the situation told Reuters on Tuesday.

José Roberto Faveret, OGX's chief legal affairs officer, was also dismissed as part of the decision, said the source, who declined to be identified because of the sensitivity of the issue.

Carneiro, who challenged a recent board decision to fire Roberto Monteiro as chief financial officer, has been in New York meeting holders of the company's $3.6 billion in bonds.

OGX declined to comment.

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