Majority of Puerto Rico power utility resigns over ‘petty’ politics

FILE PHOTO: A man walks past the headquarters of the Puerto Rico Electric Power Authority (PREPA) in San Juan, Puerto Rico January 23, 2018. REUTERS/Alvin Baez

July 12, 2018

(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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