Brazil's Petrobras To Name Parente As CEO On Monday

Reuters

BRASILIA, May 20 (Reuters) - The board of Brazil's state-run oil producer Petroleo Brasileiro SA will meet on Monday to formalize the nomination of Pedro Parente as chief executive, replacing Aldemir Bendine, according to a securities filing on Friday.

Parente, a 63-year-old engineer and one-time chief of staff to former President Fernando Henrique Cardoso, was appointed by interim President Michel Temer as Petrobras faces a financial crisis brought on by low world oil prices, crippling debt and a massive corruption scandal.

(Reporting by Silvio Cascione)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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