* OSX to call shareholder meeting to name new board
* Board departures include Batista's father
SAO PAULO, July 11 Four of the six board members
of Brazilian shipbuilder OSX Brasil SA quit on
Thursday, the latest in a wave of high-profile executive
departures from billionaire Eike Batista's crumbling
conglomerate of mining, energy and logistics companies.
Financial troubles at oil producer OGX Petróleo e Gas
Participações SA, OSX's sister company and main
customer, have put OSX in a difficult position.
In a securities filing, OSX said Batista's father, Eliezer
Batista da Silva, as well as former Energy Minister Rodolpho
Tourinho Neto, Luiz do Amaral de França Pereira and Samir Zraick
resigned from the board. The company gave no reason for the
Amaral Pereira and Zraick quit as board members of OGX
earlier this week. Three other OGX board members, including
former Finance Minister Pedro Malan and Ellen Gracie, a former
president of Brazil's Federal Supreme Court, left OGX last
OSX said a shareholder Meeting will be called to name new
board members. The company's two remaining directors are Eike
Batista and Aziz Ben Ammar, one of the 56-year-old billionaire's
The resignations come as speculation mounts that Batista
will have to restructure OGX's debt and significantly downsize
its operations, leaving OSX in the lurch. Last week, OGX agreed
to pay $449 million in compensation to OSX for the cancellation
of several orders following efforts to streamline capital
spending and avert a debt default.
OSX shares jumped 4.5 percent to 1.16 reais on Thursday.
Shares of some Batista-controlled companies have rallied this
week on speculation that banks and the government may endorse a
potential debt restructuring plan.
Shares of OSX are down 89 percent this year. OGX has slumped
88 percent since the start of 2013 after it missed production
targets and said it would abandon new projects it had previously