Petrobras shares fell more than 1% this Wednesday (4), after the resignation of Caio Paes de Andrade as president of the company. The state-owned shares had a fall of 1.32% at 12:20 pm (Brasília time), in yet another trading session of losses for the company.
With the early departure of Caio Paes de Andrade, executive production director João Henrique Rittershaussen was chosen to lead Petrobras on an interim basis until the election and inauguration of the new CEO.
On Tuesday (3), the Ministry of Mines and Energy sent a statement to Petrobras’ Board of Directors confirming that Senator Jean Paul Prates will be appointed to take over the company’s command.
The senator had already been nominated by Lula as the company’s next president since the end of last year, which displeased investors.
Prates, who withdrew from running for re-election in the Senate, has already positioned himself against the privatization of the company and has also questioned Petrobras’ current pricing policy, which is currently in line with international market practices.
Source: CNN Brasil
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