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Luis Giusti ousted from Citgo Petroleum’s board of directors -Breaking

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© Reuters. FILE PHOTO – The PDVSA U.S. unit Citgo Petroleum logo is seen at Stowell, Texas gas station, U.S.A, 12 June 2018. REUTERS/Jonathan Bachman

HOUSTON (Reuters] – Houston-based oil executive Luis Giusti Lugo has been removed from Citgo Petroleum’s board of directors. The chief supervisor body for the company said Monday.

“Citgo Holdings’ board unanimously approved two weeks ago to request his resignation,” said Horacio Medina (chief of the PDV Ad-hoc Board), without going into detail about the reasons.

Medina said that Giusti had been formally informed on Friday. Citgo, which is Venezuela’s U.S.-owned company PDVSA, has been formally notified by Medina.

Giusti is the son of an ex-PDVSA president and had taken over as CEO Carlos Jorda during a restructuring of Citgo’s board in June. Five appointees from Venezuela’s opposition parties were able to be appointed in that shakeup, with others leaving during the interim.

Robert Kent joined Citgo Petroleum’s Board of Directors last month.

Citgo on Monday said that the executive was not being listed as a board member. However, it did not immediately respond to my request for comment.

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