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New Petrobras boss is a step towards needed change

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Petrobras

Kevin Allison 

Kevin Allison Petrobras' fourth chief executive in less than five years could finally bring needed change. Michel Temer, Brazil's interim president following the impeachment of Dilma Rousseff, has picked a new CEO for the scandal-hit $40-billion state oil producer. Pedro Parente, the former head of agribusiness giant Bunge's Brazilian operations, has promised to end political appointments at Petrobras. If he follows through, it would be a step towards better governance. The commitment may sound unlikely coming from a government appointee who previously served on the board of Petrobras while ...

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First Published: Sun, May 22 2016. 21:22 IST
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