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Regions :: South America :: Venezuela

Chávez Reinstates Pequiven President After Polyolefins Pricing Controversy

12:01 PM MDT | May 28, 2010 | Kara Sissell

Chávez sought Clark Inciarte's resignation but gave him his job back a week later after receiving a detailed report showing the resins price increase was justified. Chávez says officials at state-owned companies must obtain his authorization before increasing prices. Venezuela's January 2010 currency devaluation and years without any increases for resins made the 45% rise necessary, executives say....

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