Bloomberg News

Logum Replaced CEO After Ethanol Pipeline Interview, Estado Says

December 05, 2012

Logum Logistica SA, a joint venture building a 1,300-kilometer (808-mile) ethanol pipeline in Brazil, fired Chief Executive Officer Alberto da Fonseca Guimaraes last month, O Estado de S. Paulo newspaper reported today without saying where it got the information.

Guimaraes’s dismissal came after an Oct. 26 interview with the Sao Paulo-based newspaper in which he said Petroleo Brasileiro SA, the state-controlled oil company that owns 20 percent of Logum, won’t provide financial support for the project next year. The news prompted concern that the project may be delayed or scaled back.

Guimaraes was replaced by Roberto Goncalves, another Logum employee, according to the article, which didn’t give his previous title. A Logum spokeswoman didn’t reply to telephone calls or e-mail today.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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