Board of Petrobras names new CEO

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New Petrobras CEO Pedro Parente at the Planalto Palace in Brasilia. Photo: Zuma Press.

The board of directors of Petrobras elected Pedro Pullen Parente as the company’s new CEO on Monday.

The company received on Monday a letter of resignation from Mr. Aldemir Bendine of Petrobras’ Board member and CEO positions. Additionally, Mr. Aldemir Bendine also resigned today, the office of Member of the Board of Petrobras Distribuidora – BR.

Mr. Parente, formerly the top executive at the Brazilian unit of U.S. agribusiness giant Bunge Ltd. and currently chairman of stock-market operator BM&FBovespa SA, will assume the top spot at Petrobras as it is facing a challenging scenario due to its high debt.

According to a Petrobras press release, Pedro Pullen Parente began his public service career at Banco do Brasil in 1971 and was transferred to the Central Bank in 1973, in both cases following public examination. He has been a consultant for the International Monetary Fund and public institutions in Brazil, including several State Departments and the National Constituent Assembly of 1988, and has occupied various government positions in the economics area. He was Minister of State between 1999 and 2002, having led the team handling the transition from President Fernando Henrique Cardoso’s government to President Lula’s administration. During this period, he played an important role as President of the Energy Crisis Management Chamber. He was a member of the Board of Directors of Petrobras between March 24, 1999 and December 31, 2002 and Chairman of the Board as of March 25, 2002. He was Chief Operating Officer of RBS Group between 2003 and 2009 and President and CEO of Bunge Brasil from 2010 to 2014. He is currently a member of the Board of Directors of SBR-Global, as well as an Executive Partner of the Prada group of consulting and financial advisory companies. He has also been Chairman of the Board of Directors of the BM&FBOVESPA – Securities, Commodities and Futures Exchange since March 2015.

Read more

Petrobras Investor Relations: New CEO and changes to Management

The Wall Street Journal: Brazil’s Petrobras Board Names Pedro Parente as New CEO

Reuters: Brazil’s Petrobras picks Parente as CEO, takes office Thursday

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Posted in Brazil, Oil & Gas

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