Castello Branco Approved as Petrobras’ New CEO in Brazil

Executive will start tenure expected to resolve issues such as the suspension of decree that would allow company to give up participation rights in the exploration and production of oil and natural gas.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Petrobras’ Board of Directors announced last week that it has accepted the nomination of economist Roberto Castello Branco to the position of president of the company as of January 1, 2019. The nomination of Castello Branco, made by President-elect Jair Bolsonaro, was voted on by the Committee for Nominating, Compensation and Succession of the Board of Directors.

“The Company informs that the Board has appointed Mr. Roberto Castello Branco to the position of Board Member from 01/01/2019 until the next General Shareholders' Meeting and also elected him . . .

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