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Under Carneiro, who took the helm of the company in June 2012, OGX grappled with output target delays, a surge in debt and eroding market confidence that led to a 96 percent slump in the price of its shares. In recent weeks, Carneiro challenged a board decision to fire Roberto Monteiro as chief financial officer, and sought to exercise a put option that would oblige Batista to buy $1 billion in OGX stock to replenish the company's capital.