Argentina Asks YPF Boss to Resign

Argentina has asked the head of state-controlled oil company YPF to step down next month, the government's official news agency Telam said on Wednesday.

 

Chief Executive Miguel Galuccio was appointed in 2012 by Argentina's previous president, Cristina Fernandez, who seized control of YPF from Spanish oil giant Repsol.

 

The country's new president Mauricio Macri, who was elected in November on a free markets platform, has pledged to get Argentina's economy moving and correct the mistakes of the previous government.

 

Telam said Galuccio's resignation was asked for "due to a restructuring" at the company.


(Reporting by Hugh Bronstein. Editing by Jane Merriman)