Brazil Stock Exchange Chairman Takes Petrobras CEO Job


Petroleo Brasileiro SA will be led by veteran business executive Pedro Parente, as the state-controlled oil producer struggles to reduce debt and navigate the fallout from the country’s biggest corruption scandal.

Parente, who is currently the chairman of BM&FBovespa SA, the operator of Latin America’s biggest securities exchange, accepted an offer from Acting President Michel Temer to become Petrobras’s third chief executive officer in less than two years.

“This wasn’t something that I was expecting, but when you’re asked to help rebuild the country, it’s a hard request to ignore and turn down,” Parente told reporters not long after his appointment on Thursday. “Petrobras faces huge challenges, and has big plans under way.”

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