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CORRECTED-STXNEWS LATAM-HRT Chairman to resign on stock-market rule
April 4, 2013 / 6:25 PM / in 5 years

CORRECTED-STXNEWS LATAM-HRT Chairman to resign on stock-market rule

(Corrects to say that resignation plan was previously announced, that Marcio Mello remains CEO and still holds a seat on the board of directors) Marcio Mello, chief executive officer of Brazilian oil and gas company HRT Participações em Petróleo SA plans to step down as chairman of the company’s board of directors April 29 to comply with rules at the Sao Paulo’s BM&FBovespa stock exchange, the company said in a statement on Wednesday.

HRT and other companies that participate in the BM&FBovespa’s Novo Mercado, or “New Market” are required to separate the positions of Board Chairman and CEO by May 2014, the company said.

While resigning his chairmanship, Mello, the founder of HRT will remain on the board and will continue as CEO, HRT said.

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