Nominated Petrobras CEO not yet approved

摘要

Rio de Janeiro-The Brazilian interim government’s choice of CEO for state-led oil company Petrobras, Pedro Parente, will not be able to take the reins immediately as anticipated due to a new internal vetting process. The new rules are part of corporate governance measures implemented after a decade-long corruption scheme involving former Petrobras executives, local politicians and construction and engineering firms was uncovered in 2014. The board, which is controlled by the government, had been expected to approve Parente’s appointment Monday.