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FILE PHOTO: A man wearing a protective face mask and gloves walks in front of Banco do Brasil (Bank of Brazil) during the coronavirus disease (COVID-19) outbreak in Sao Paulo, Brazil, March 24, 2020. REUTERS/Amanda Perobelli/File Photo
SAO PAULO (Reuters) - Banco do Brasil SA’s board members argued in a public statement on Thursday that President Jair Bolsonaro’s nominee to take over the state-controlled bank was not ready for the job and that the board should have the power to appoint its leader.
Currently, Brazil’s far-right President Jair Bolsonaro is entitled to nominate the chief executive, leaving its board of directors little say, in a deviation of corporate governance best practices.
Bolsonaro s pick for Banco do Brasil CEO not ready for the job, say board members
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ANALYSIS-Under political attack, Brazil s Bolsonaro goes on the offensive
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