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Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat

Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat
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Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat - Netscape Money & Business

Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat - Netscape Money & Business
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Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing ...

By Gram Slattery, Sabrina Valle and Rodrigo Viga Gaier
RIO DE JANEIRO, Feb 19 (Reuters) - Brazilian President Jair Bolsonaro moved to replace the head of state-run oil company Petrobras, naming a retired army general with no oil and gas experience as CEO after weeks of clashes with the current chief executive over fuel price hikes.
In a late Friday statement from the Mines and Energy Ministry, first shared on Bolsonaro s Facebook page, the government said it had decided to appoint former Defense Minister Joaquim Silva e Luna to run Petroleo Brasileiro SA , as the firm is known formally.
Current CEO Roberto Castello Branco, backed by investors for his efforts to sell underperforming assets and cut debt, would be the second Petrobras leader in three years to fall over the political fallout from fuel pricing. In 2018, then-CEO Pedro Parente resigned when the government forced fuel prices lower in a concession to striking truckers. ....

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Petrobras ADRs traded in New York slump over 9% after Bolsonaro nominates new CEOny's CEO

Petrobras ADRs (PETR4;PETR3), depositary receipts traded on the New York Stock Exchange slumped over 9% on Friday night, February 19th, after president Jair Bolsonaro announced the nomination of General Joaquim Silva e Luna as the new CEO of the state-owned company on social networks. ....

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Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat

Brazil's Bolsonaro to oust Petrobras CEO after fuel pricing spat
metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.

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