CEO of Brazil's Eletrobras resigns, citing personal reasons

BRASILIA: Wilson Ferreira Jr, chief executive of Brazilian state electricity company Eletrobras , has resigned from his position citing "personal reasons", the company said in a securities filing late on Sunday night.

Ferreira will remain in his post until March 5, allowing Centrais Eletricas Brasileiras SA, as the company is formally known, to find a successor, according to the filing.

Ferreira has led Eletrobras for nearly four and a half years. His resignation comes only a month after Chairman José Guimarães Monforte announced he was resigning, also for personal reasons.

The government has said Eletrobras may be privatized this year, a sale which could generate up to 20 billion reais ($3.7 billion).