The former chairman of Banco de Fomento Angola and former director of Portuguese bank Caixa Geral de Depósitos (CGD) Emídio Pinheiro will take over the management of Sonangol Holdings e Indústria, as chief executive, the Angolan state-owned company announced on Thursday in a statement released in Luanda.

The statement from Sonangol said, “Emídio Pinheiro will take on the responsibility in the areas that are not the main business of Sonangol, namely the management of Holdings e Indústria, bringing 30 years of experience gained in the banking and insurance sectors.”

In addition to Pinheiro, Sonangol’s board of directors will be joined by Ivan Sá de Almeida to take on a role in the areas related to production and exploration and Susana Almeida Brandão, to coordinate the legal area.

In June 2016, businesswoman Isabel dos Santosbecame chairwoman of the Sonangol group’s board of directors, with the mission of restructuring the oil company, which is Angola’s largest business group. (macauhub)