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Bloomberg
Petrobras Chairman Admiral Eduardo Bacellar Leal Ferreira plans to step down after three years at the helm of the state-controlled Brazilian oil giant, citing personal reasons.
“My family lives abroad and I want to be close to them,†Ferreira, who turns 70 in June, said by phone.
Rodolfo Landim, the former chief executive officer of BR Distribuidora, is likely to be proposed as Ferreira’s replacement by the federal government, Petroleo Brasileiro SA’s top shareholder, according to a person familiar with the matter. The company may elect a new board of directors at the annual general meeting on April 13, said the person, who declined to be identified because the matter is private.
Petrobras didn’t immediately respond to a request for comment.
Landim is currently the president of Flamengo, one of the most popular soccer teams in Brazil which already has the occasional declared support of President Jair Bolsonaro.
With crude oil prices surging to multiyear highs, Ferreira is stepping down at a sensitive time for Petrobras.
Importers and investors want the company to raise fuel prices and stick to its international price parity policy.