The CEO of Chilean energy company Enersis, a subsidiary of Italy's Enel, resigned Tuesday, members of the company said.
The decision taken by Jorge Rosenblut, one of the major fund-raisers for President Michelle Bachelet's electoral compaign, was announced at a meeting of the board that he attended by videoconference.
Rosenblut was with Enersis for 15 years, first as a director and then as president of the Chilectra distributor for nine years, followed by another five as president of the Endesa power company, until he was tabbed eight months ago for the top job.
His resignation came amid criticism of his fund-raising activities for political campaigns.
Rosenblut had already revealed his role in raising funds for the electoral campaigns of 2012 that involved the mining company SQM.
But statements made by the political strategist of Bachelet's New Majority coalition, Giorgio Martelli, were what really troubled the Enersis directors.
Martelli, owner of a consulting firm, testified as a defendant before prosecutors probing irregularities committed by companies funding politicians, and pointed to Rosenblut's prominent role in obtaining such financing while he was president of Endesa Chile.
Rosenblut is also expected to be summoned for a deposition as a potential defendant, though no date has been set for his court appearance.