Petrobras chief executive resigns, CFO terminated

Mr Prates’ request for an early termination of his tenure as chief executive was disclosed on 14 May. The board of directors approved his request on 15 May. No reason for his departure was given.

Once his request for an early termination as chief executive was granted, Mr Prates submitted his resignation as a member of Petrobras board of directors.

Due to the vacancy in the company’s presidency, the chairman of the board of directors appointed the executive director of corporate affairs, Clarice Coppetti, as the company’s interim president in accordance with the company’s bylaws, until an election for a new chief executive can be held.

In another move, the board of directors removed Sergio Caetano Leite as chief financial and investor relations officer, and appointed the current finance executive manager, Carlos Alberto Rechelo Neto, as interim, until the election of a new chief financial officer can be held.

UPDATE: 16 May

Petrobras announced the nomination of Magda Maria de Regina Chambriard to the positions of chief executive and member of the board of directors of Petrobras. Her appointment will undergo evaluation by the company’s integrity and human resources departments before being submitted to the People Committee (COPE) of the board of directors for approval. This process that generally takes up to 15 days, according to Petrobras.

Ms Chambriard holds a Master’s degree in Chemical Engineering from COPPE/UFRJ (1989) and a degree in Civil Engineering from UFRJ (1979), and is specialised in reservoir engineering and formation evaluation and later in oil and gas production at what is now called Petrobras University.