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Rico and the utility's board submitted their resignations after Epsas employees began a strike on August 1, demanding that Rico step down over alleged irregularities and inadequate management.
Epsas' new board is now composed of officials from MMAyA, the La Paz and El Alto municipal governments and the federation of neighborhood committees.
''Each entity has a representative that participates in the Epsas board [...] which, together with the director general, designs and executes the company's administrative policies,'' said environment minister Mabel Monje.
Epsas is currently undertaking nine projects worth 52.5mn bolivianos (US$7.54mn) that are slated to wrap up this year. Funds have been earmarked for another 22 projects requiring some 237mn bolivianos, of which eight will launch by year-end, the release said.