Petrobras Unveils New Leadership Team

Petrobras, Brazil's state-run oil company, announced its new leadership team under CEO Magda Chambriard. Fernando Melgarejo is the new CFO, Renata Baruzzi takes over engineering, technology, and innovation, while Sylvia dos Anjos heads exploration and production. This follows the dismissal of former CEO Jean Paul Prates.

The chief executive of Brazilian state-run oil company Petrobras, Magda Chambriard, has announced her new management team, with the appointment of three directors, the firm said in a filing on Friday.

Fernando Melgarejo has been appointed as chief financial officer, taking over the role from Sergio Caetano Leite, who was ousted alongside former CEO Jean Paul Prates last month. Renata Baruzzi will become the chief officer for engineering, technology and innovation; and Sylvia dos Anjos will head up exploration and production.

Current executive officers Clarice Coppetti, Mauricio Tolmasquim, Claudio Schlosser and Mario Spinelli will retain their positions under Chambriard for the time being, but Petrobras said "other possible nominations will be communicated to the market in a timely manner." Brazilian President Luiz Inacio Lula da Silva last month dismissed Prates and named Chambriard to replace him, with a mandate to speed up Petrobras' investment plan of $102 billion for the 2024-2028 period.