Batista's Brazilian shipbuilding arm OSX shakes up board

Thu Jul 11, 2013 9:01am EDT

OSX Brasil, the shipbuilding unit of Brazilian billionaire Eike Batista's crumbling empire, said in a market filing on Thursday that four board members will be stepping down.

The company will hold an extraordinary general assembly to find board replacements for Rodolpho Tourinho Neto, Luiz do Amaral de França Pereira, Samir Zraick and Eliezer Batista da Silva, who will be leaving. No reason was given for the board resignations.

Markets have punished the publicly traded shares of Batista's companies, involved in shipbuilding, port building, mining, oil and gas exploration and energy generation, after they posted repeatedly disappointing results over the past year.

A similar board shakeup at Batista's troubled flagship OGX Petroleo e Gas SA occurred on July 10 after the company failed to deliver on promised oil production.

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