July 12, 2018 / 5:27 PM / 4 months ago

Majority of Puerto Rico power utility resigns over 'petty' politics

July 12 (Reuters) - Five members of the Puerto Rico Electric Power Authority (PREPA)board, including its just-named chief executive officer, resigned on Thursday over “petty political interests,” according to a letter from the governor’s office viewed by Reuters.

The resignations came a day after PREPA named Rafael Diaz-Granados, an independent member of the authority’s board, as CEO starting July 15. The move followed a statement from Puerto Rico Governor Ricardo Rossello on Thursday asking the seven-member PREPA board to reduce Diaz-Granados’ $750,000 annual salary or resign.

Reporting by Karen Pierog in Chicago, Nick Brown and Jessica Resnick-Ault in New York; editing by Daniel Bases and Jonathan Oatis

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