Puerto Rico's power company names 2nd CEO in 2 weeks

July 18, 2018 - 12:51 pm

SAN JUAN, Puerto Rico (AP) — Puerto Rico's power company has named its second CEO in two weeks as it struggles with leadership issues, bankruptcy and the restoration of electricity to hundreds who have remained in the dark since Hurricane Maria.

Jose Ortiz takes over Puerto Rico's Electric Power Authority on July 23 and said Wednesday that he will review federal contracts awarded to U.S. companies who are helping restore and rebuild the island's electrical grid after the Category 4 storm destroyed up to 75 percent of transmission lines. He also said his priority is to reach a deal with creditors and resolve the agency's $9 billion public debt.

Ortiz is an electrical engineer who once served as executive director of Puerto Rico's water and sewer company and president of the power company's board.