Petrobras Appoints Pedro Parente as CEO to Replace Aldemir Bendine

Petroleo Brasileiro SA (Petrobras) appointed Monday Pedro Parente as CEO to succeed Aldemir Bendine, who resigned on the same day from the post at Brazil's national oil company.

"In light of the resignation (of Bendine) today, the Board of Directors held an extraordinary meeting, at which the engineer Pedro Pullen Parente was elected as Member of the Board of Petrobras. The Board, at the same meeting, also elected Pedro Parente to the position of CEO of the Company as of May 31," the company said in a press release.

Parente held several positions in the public sector, including at Banco do Brasil, the Central Bank and the government's economics department. He also served as Minister of State between 1999 and 2002, and led the transition team between President Fernando Henrique Cardoso’s government and President Lula’s goverment. During this period, he served as president of the Energy Crisis Management Chamber, member of the Board of Directors of Petrobras between March 1999 and December 2002 and chairman of the Board as of March 2002.

The new CEO was also chief operating officer of RBS Group between 2003 and 2009 and president and CEO of Bunge Brasil from 2010 to 2014. Parente is currently a member of the Board of Directors of SBR-Global, an executive partner of the Prada group of consulting and financial advisory companies and chairman of the Board of Directors of the BM&FBOVESPA – Securities, Commodities and Futures Exchange.

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