Sergio Gabrielli Named as Petrobras' New CFO

Petrobras has named economist Sergio Gabrielli de Azevedo as the company's new financial director. Petrobras said Gabrielli will be officially nominated for the post at a board meeting on January 31, and that he would start work on February 1. Gabrielli will replace Joao Pinheiro Nogueira Batista, who has said he is stepping down for personal reasons.

Gabrielli holds a doctorate in economics from Boston University and has worked as a visiting scholar at the London School of Economics and Political Science. He also has an extensive background in Brazilian academia, mainly in the economics department at the Federal University of Bahia, where he did his undergraduate work. Gabrielli will report to Petrobras' recently installed president, Jose Eduardo Dutra.