Petrobras Star CEO Comes to the Rescue of Brazil Food Giant

Pedro Parente, lauded for turning around Brazil’s state-oil giant Petrobras SA, agreed to become chairman of struggling food conglomerate BRF SA, a breakthrough that may end several weeks of fighting among shareholders over who will sit on its board.

If his name is approved at an April 26 meeting of shareholders, Parente will resign from the board of stock-exchange operator B3 SA, because of an agreement with Petrobras that allows him to serve only on one corporate board aside from Petrobras and its units

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