Petrobras's Board Voted For A New Chief Executive
Apr 15, 2022
The board also agreed to appoint Marcio Andrade Weber as chairman of the Board of Directors of the National Oil Company.
Recently, The frequent replacement of Petrobras "head" caused market concern. Rising fuel prices, driven by rising international oil prices, and the continued depreciation of Brazil's currency, the real, against the dollar have pushed up inflation. According to the Institute of Geography and Statistics (IBGE), part of the Economy ministry, inflation rose 1.62 per cent in March from the previous month, the highest for a single month in 28 years. President Jair Bolsonaro has repeatedly criticized Petrobras's operations and pricing policies and replaced the company's president several times. Bolsonaro had appointed Adriano Pires, founder of Brazil's Infrastructure Centre, as president of Petrobras and Flamengo football club chairman Rudolf Landim as chairman of the board on March 28. Since then, they have refused to be appointed, saying that they cannot balance their old and new jobs.
Recently, The frequent replacement of Petrobras "head" caused market concern. Rising fuel prices, driven by rising international oil prices, and the continued depreciation of Brazil's currency, the real, against the dollar have pushed up inflation. According to the Institute of Geography and Statistics (IBGE), part of the Economy ministry, inflation rose 1.62 per cent in March from the previous month, the highest for a single month in 28 years. President Jair Bolsonaro has repeatedly criticized Petrobras's operations and pricing policies and replaced the company's president several times. Bolsonaro had appointed Adriano Pires, founder of Brazil's Infrastructure Centre, as president of Petrobras and Flamengo football club chairman Rudolf Landim as chairman of the board on March 28. Since then, they have refused to be appointed, saying that they cannot balance their old and new jobs.
