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Environment

Reuters exclusively reports incoming Petrobras CEO says he has no plans to push out executives

Joaquim Silva e Luna, the incoming CEO of Brazil’s state-run oil company Petrobras, told Reuters that at least part of the executive board could stay on when he takes over in April, a signal that he is not planning a wholesale shake-up of management In February, Brazilian President Jair Bolsonaro announced he was replacing current Chief Executive Castello Branco with Luna, amid disagreements over a string of domestic fuel price increases. Castello Branco’s sacking sent jitters throughout financial markets. “Political appointments aren’t part of my management ideas. I’ve already dealt with political requests. I didn’t accept it and it wasn’t easy,” Luna told Reuters in an interview.

Article Tags
Topics of Interest: Environment
Type: Reuters Best
Sectors: Commodities & Energy
Regions: South America
Countries: Brazil
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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