Petrobras to get a new boss on Monday, provided he receives board approval

Hayley Kirton
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Oil Rigs Off Coast Of Rio de Janeiro
Petrobras has been rocked by a scandal involving allegations of billions of dollars worth of bribery (Source: Getty)

Brazil's state-run oil producer Petrobras will be getting a new boss on Monday.

According to a notice filed late last week, the board will meet tomorrow to formally consider appointing engineer Pedro Parente as the company's new chief executive, replacing Aldemir Bendine.

Parente has previously held roles in government, including chief of staff and minister of planning, and was chief executive of Bunge Brazil.

Petrobras has been the centre of a high-profile scandal in recent years, involving accusations of corruption worth billions of dollars.

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Last year, the emergence of the scandal pushed Maria das Gracas Silva Foster to stand down as chief executive of Petrobras, along with five other senior executives. Former banker Bendine was appointed as her replacement.

According to Globo's G1, Parente told a press conference shortly after it was announced that he was going to be appointed as chief executive that "There will be no political statements in Petrobras... This was a clear direction that President [Michel] Temer gave me so I will be clear and emphatic about this point."

Temer himself took over as acting president of the country after President Dilma Rousseff stood down last week ahead of an impeachment trial, where she will be tried for breaking budget laws. Until then, Temer had served as vice president.

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Rousseff is also a former chair of Petrobras, although she has officially been exonerated of any wrongdoing in respect of the bribery scandal.

Petrobras posted a net loss of 36.9bn reais (£7.1bn) in its fourth quarter of 2015, thanks partly to continuing massive declines in the price of crude oil. At the the time the results were released, Bendine reassured investors that the company had enough cash to see it through 2017.

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