7 June 2016

Angola: Isabel Dos Santos Resigns From Companies Positions

Photo: MAKA
Isabel dos Santos

Luanda — The engineer Isabel dos Santos resigned from the positions of members of the Board of Directors of the companies NOS, SGPS, Portuguese BIC Bank and Efacec Power Solutions, SA Angop learnt on Monday.

In a press release, Isabel dos Santos said that the resignation for the positions in those companies is due to her appointment as Chairperson of Sonangol and aims, on the one hand, to avoid problems of conflict of interest and, secondly, to strengthen the guarantees of transparency in new tasks.

The immediate cessation of managing duties of those companies, which run her key investments in Portugal, will take effect at the end of July or, if earlier, the date on which her substitutes are appointed or elected, in accordance with Article 404 of the Commercial Companies Code.

The entrepreneur took office on Monday in Luanda as Chairman of the Board of Directors of Sonangol.

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