Energy
Petroperu’s New Board Is Unraveling as Two Directors Quit
- State-owned oil company didn’t have a board for eight weeks
- Two directors resigned less than 48 hours after being named
Petroperu has become a drag on Peru’s public finances, with its fiscal deficit growing to 4% of gross domestic product.
Photographer: Sebastian Castaneda/BloombergThis article is for subscribers only.
The new board of Petroperu, the country’s ailing state-owned oil company, is unraveling, with two members resigning less than 48 hours after being appointed.
It had taken Petroperu eight weeks to put a new board together, but Carlos Lezameta and Robert Mc Donald have already stepped down, according to securities filings published on Friday and Saturday.