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Publishing date: Apr 15, 2021 • 1 hour ago • 2 minute read •
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RIO DE JANEIRO Incoming Petrobras CEO Joaquim Silva e Luna, an army veteran with no oil experience, has endorsed four career executives to head up key company divisions rather than bringing in more outsiders, people with knowledge of the matter said on Thursday.
The board of directors of Petroleo Brasileiro SA, as Brazil’s state-controlled company is formally known, meets on Friday to vote on the new division heads, the company said. The board is also expected to officially confirm Luna as CEO.
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RIO DE JANEIRO (Reuters) -Shareholders in Brazil’s Petrobras voted on Monday to remove Roberto Castello Branco as CEO, and elected his government-picked successor to the board of directors, but discontent among some investors threatens to drag out the transition process.
FILE PHOTO: Roberto Castello Branco, chief executive of Petroleo Brasileiro SA, attends a news conference in Rio de Janeiro, Brazil February 28, 2019. REUTERS/Sergio Moraes/File Photo
The dismissal of Castello Branco, while widely expected, is an important step in the government’s plan to place Joaquim Silva e Luna, a retired army general who has no oil and gas experience, in charge of the state-controlled oil producer.