Bolsonaro Calls for More Changes After General Goes to Petrobras
Bloomberg 2/20/2021 Peter Millard, Marisa Castellani and Patricia Xavier
(Bloomberg) Brazilian President Jair Bolsonaro said that more changes are underway after naming a former general to replace the University of Chicago-educated economist running state-controlled Petroleo Brasileiro SA.
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The leadership change at Petrobras followed a feud with Bolsonaro over fuel prices after Petrobras adjusted them to align with international rates. His comments on Saturday may add to concerns about a wider shift away from market-friendly policy goals by the administration.
“I have to govern, change parts that may not be working, and if the media is concerned about yesterday’s change, next week we’ll have more,” Bolsonaro said at an event Saturday.
Brazil s Bolsonaro to oust Petrobras CEO after fuel pricing spat - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
By Gram Slattery, Sabrina Valle and Rodrigo Viga Gaier
RIO DE JANEIRO, Feb 19 (Reuters) - Brazilian President Jair Bolsonaro moved to replace the head of state-run oil company Petrobras, naming a retired army general with no oil and gas experience as CEO after weeks of clashes with the current chief executive over fuel price hikes.
In a late Friday statement from the Mines and Energy Ministry, first shared on Bolsonaro s Facebook page, the government said it had decided to appoint former Defense Minister Joaquim Silva e Luna to run Petroleo Brasileiro SA , as the firm is known formally.
Current CEO Roberto Castello Branco, backed by investors for his efforts to sell underperforming assets and cut debt, would be the second Petrobras leader in three years to fall over the political fallout from fuel pricing. In 2018, then-CEO Pedro Parente resigned when the government forced fuel prices lower in a concession to striking truckers.
Bolsonaro Calls for More Changes After General Goes to Petrobras
Bloomberg 2/20/2021 Peter Millard, Marisa Castellani and Patricia Xavier
(Bloomberg) Brazilian President Jair Bolsonaro said that more changes are underway after naming a former general to replace the University of Chicago-educated economist running state-controlled Petroleo Brasileiro SA.
Popular Searches
The leadership change at Petrobras followed a feud with Bolsonaro over fuel prices after Petrobras adjusted them to align with international rates. His comments on Saturday may add to concerns about a wider shift away from market-friendly policy goals by the administration.
“I have to govern, change parts that may not be working, and if the media is concerned about yesterday’s change, next week we’ll have more,” Bolsonaro said at an event Saturday.
Bolsonaro Names a General as Petrobras CEO After Price Dispute msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.