Dilma Pena assumes Sabesp presidency

- Friday, January 28, 2011

Dilma Pena assumes Sabesp presidency

Brazilian São Paulo state's former sanitation and energy secretary Dilma Pena has officially assumed the presidency of the state's water utility Sabesp (Bovespa: SBSP3, NYSE: SBS), the utility said in a release.

"I contributed to the growth of Sabesp as [state sanitation and energy] secretary and even though the challenge is greater now, it is fundamental to continue the forward movement," Pena said during her inauguration speech.

Sabesp, Brazil's largest water company, invested some 7bn reais (US$4.18bn) and reduced water losses from 32% to 26% in the 2007-2010 period under the presidency of Gesner Oliveira.

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The utility also appointed a new regional systems director, Luiz Paulo de Almeida Neto, who replaces Umberto Semeghini.