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Braskem to appoint new chairman after executive arrested


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July 21, 2015 by Canadian Plastics

Brazilian petrochemical maker Braskem SA has named Newton de Souza as its new temporary chairman, after its current chairman was arrested for alleged involvement in a corruption scheme.

De Souza replaces Marcelo Odebrecht, CEO of construction company Odebrecht SA, who was arrested last month for alleged involvement in a kickback scheme at Brazilian state-run oil company Petrobras.

Odebrecht, 46, has been chairman of the board at Braskem since 2008.

In a statement, Braskem said it will hold a general meeting on August 4 to appoint a new chairman.

Marcelo Odebrecht.

Marcelo Odebrecht.