The chief executive of SBM Offshore and one of its board members settled “personal favouritism” charges with Brazilian prosecutors for around $60,000 each, with no admission of guilt, the company said on Monday.
The company said in a statement it believed the charges against CEO Bruno Chabas and board member Sietze Hepkema were “without merit” but it was easier to reach a settlement than to try to fight them.
Brazil Energy Insight 
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