PREPA board names new leaders, date set for appointing new CEO

July 14, 2018 2:01 AM

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NEW YORK (Reuters) - Bankrupt Puerto Rico Electric Power Authority (PREPA) late on Friday named a new chairman and vice chairman of the board of governors a day after the majority of the board cited a lack of support by the island’s governor and resigned in protest.

Five of seven members of the board resigned on Thursday, leaving the utility with no leadership amid a massive restructuring effort following the devastation wrought by Hurricane Maria.

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