Reported 7 months ago
Petrobras's CEO, Magda Chambriard, has appointed Fernando Melgarejo as the new CFO, along with two other executives, marking her first key appointment since taking over last month. The appointment caused Petrobras's preferred shares to drop by 3.6%. Melgarejo, an economist with 30 years of experience at Brazil's Banco do Brasil SA, will face the challenge of balancing the expectations of President Luiz Inacio Lula da Silva and profit-oriented investors. The new management, under Chambriard, aims to focus on offshore exploration to replenish Brazil's reserves and revitalize the Brazilian shipbuilding industry.
Source: YAHOO