Emae names new CEO, CFO

The board of São Paulo state water and power company Emae elevated new individuals to the company's top posts.

Ronaldo Souza Camargo, a former director of Brazil's transport department Denatran, will replace Márcio do Nascimento Magalhães as CEO. Luigi Camilo Amadeu Lazzuri Neto will assume as CFO, replacing Paulo Roberto Fares.

Magalhães and Fares resigned from their respective posts earlier this week.

Márcio Rea became new administrative director and Itamar Rodrigues is now in charge of generation.

State-run companies have replaced top-level leadership more often since last year's general election as new political leaders assumed office on January 1.

Emae operates the Henry Borden hydroelectric power plant, a series of small plants in the midst of the Tietê river, and the Piratininga thermoelectric plant (leased to Petrobras). Among Emae's main clients are electricity distributors AES Eletropaulo, Bandeirante and CPFL Piratininga.