Ecuador Fires 12 CEOs Amid Graft Accusations at State Firms
- Head of public companies holding tells executives to resign
- President Lasso says some officials may have fled the country
Ecuador's President Guillermo Lasso
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Ecuador’s government fired the CEOs of several major state-owned companies, including oil driller Petroecuador, in response to graft allegations published by a local media outlet.
The heads of key oil, mining and electricity producers were ordered to step down in a letter signed Tuesday by Joaquin Ponce, who heads EMCO, the holding company that controls the nation’s state-owned enterprises.