Thursday, July 7

Brazil appoints Gileno Gurjao Barreto as Petrobras chairman


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SAO PAULO — The Brazilian government appointed Gileno Gurjao Barreto on Thursday as state-run Petrobras’ chairman of the board.

The Mines and Energy Ministry also appointed nine more members to be part of Petrobras’ board of directors, including Caio Mario Paes de Andrade, who is set to be the oil giant’s chief executive.

The nominations, which still need to be approved by shareholders, come weeks after Brazil’s President Jair Bolsonaro ousted the company’s previous CEO who served less than two months on the job.

Bolsonaro had voiced frustrations over Petrobras’ fuel pricing at the time.

The ouster meant that the firm’s board, which was also elected in mid-April, was dismissed as well, according to Petrobras. (Reporting by Peter Frontini; Editing by Christopher Cushing and Muralikumar Anantharaman)



financialpost.com

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