Petrobras Board Names Pedro Parente As New CEO
May 31 2016 - 8:30AM
Dow Jones News
SÃ O PAULO—The board of Brazil's state run oil firm Petró leo
Brasileiro SA, or Petrobras, named Pedro Parente as the company's
new CEO.
The name of Mr. Parente, who replaces Aldemir Bendine in the
post, was announced earlier this month by Brazil's acting President
Michel Temer, as part of a broad shuffle of top government
jobs.
Mr. Parente, formerly the top executive at the Brazilian unit of
U.S. agribusiness giant Bunge Ltd. and currently chairman of
stock-market operator BM&FBovespa SA, will assume the top spot
at Petrobras as it is facing a challenging scenario due to its high
debt.
Earlier this month, the administration of Mr. Temer also
appointed new heads for state run banks BNDES, Banco do Brasil and
Caixa Economica Federal.
Previously, banking executives were named by Dilma Rousseff, who
had to step aside as the country's president a few weeks ago to
face an impeachment trial in the Senate. She was replaced by then
Vice President Mr. Temer.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
May 31, 2016 08:15 ET (12:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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