February 28, 2024

The head of distribution company Lite resigns amid the financial crisis

247 – This Saturday (17), Thiago Freire Guth announced his resignation as CEO of energy distribution company Light Sesa, which filed for bankruptcy protection in May. Guth will also step down from the position of Chairman of the Board of Directors of the holding company and advisor to the group’s generation company. The company did not disclose the reason for the resignation, and only informed it that the executive authority would remain until June 30, and that the alternatives would be announced “at the appropriate time,” according to Reports the journalist Nicola Pamplonain an article published in Folha de S. Paulo.

Concluding the statement, the company thanked Gouth for his dedication and professionalism. This is the second restructuring process to be implemented since the beginning of the company’s financial crisis. In March, Octavio Pereira López resigned from two of the company’s power generation and distribution subsidiaries, but remains in charge of the holding company and on the boards of directors of the subsidiaries.

Light has filed for injunctive recovery claiming that it is unable to handle its R$11 billion debt and, at the same time, maintain energy supplies in its concession area. The company is seeking an early renewal of the franchise to renegotiate its debt. He also claims that his situation is hampered by the difficulty of charging all distributed power, due to public security problems in the state which is dominated by organized crime in several areas.