STXNEWS LATAM-Brazil's OGX fires CFO Bernardes; post vacant
The board of Brazilian debt-laden oil producer OGX Petróleo e Gas Participações SA fired on Thursday Chief Financial Officer Roberto Bernardes Monteiro, according to a securities filing made public on Friday. The board dismissed the executive despite Chief Executive Officer Luiz Carneiro's request to keep Monteiro on the job, according to the filing.
The company elected three new board directors last week, a move that may put more pressure on controlling shareholder Eike Batista to pay the oil firm $1 billion owed under a put option. OGX, which is refinancing part of its $5 billion debt and running out of cash to develop oil fields, has called in a promise from Batista - who is challenging the validity of the put option - to inject the new capital.
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