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Puerto Rico board won’t appeal rejection of its transformation officer for power utility

By on November 28, 2017

Revitalization Coordinator Noel Zamot and fiscal board Executive Director Natalie Jaresko (Jaime Rivera/CB)

SAN JUAN – The Financial Oversight and Management Board for Puerto Rico announced Tuesday that it will not appeal the recent U.S. District Court decision to deny the confirmation of Noel Zamot’s appointment as chief transformation officer for the Puerto Rico Electric Power Authority (Prepa).

“While the Board is disappointed by the Court’s ruling,” said Natalie Jaresko, the board’s executive, “we have decided to focus our efforts to transform PREPA through a revised fiscal plan and other tools at our disposal rather than appeal the decision.”

The board announced its intent to appoint Revitalization Coordinator Zamot to the public power utility on Oct. 25.

Federal judge rejects Puerto Rico fiscal board’s appointment of power utility ‘chief transformation officer’

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