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FILE IMAGE. The CEO of Petrobras speaks during a plenary session of the Chamber of Deputies, in Brasilia, Brazil
(Corrects in the title to clarify that it advances in the replacement of the executive president, not that it replaces him)
By Rodrigo Viga Gaier
RIO DE JANEIRO, March 28 (Archyde.com) – Brazilian President Jair Bolsonaro has decided to replace the CEO of state oil company Petrobras, three sources with knowledge of the matter said on Monday.
A list of board members that the Bolsonaro government drew up for shareholder approval at an April meeting did not include the name of Joaquim Silva e Luna, said two sources, who asked to remain anonymous because the matter was confidential.
The CEO of Petrobras, formally known as Petróleo Brasileiro SA, must, according to its statutes, be a member of the board, so Luna’s exclusion marks the end of his mandate.
A third source, a government official who also requested anonymity, confirmed that Bolsonaro had made the decision to replace Luna.
Neither Petrobras nor Bolsonaro’s office immediately responded to requests for comment.
News magazine Veja reported on Bolsonaro’s decision earlier on Monday, saying the government would announce the move to replace Luna within hours, citing government sources.
Brazil-listed Petrobras preferred shares briefly fell nearly 2% after the news, before recovering much of their losses.
(Reporting by Rodrigo Viga Gaier, additional reporting by Carolina Pulice and Peter FrontiniEdited in Spanish by Javier López de Lérida)