After Pedro Parente resigned as Petrobras CEO on Friday, President Michel Temer wasted no time before appointing his replacement: the company’s former chief financial officer, Ivan Monteiro. Temer’s choice signaled the government’s desire for continuity at Brazil’s state-owned oil and gas company. After all, Monteiro was Parente’s right-hand man and had carried out Parente’s divestments plan at Petrobras.
The new chief came to Petrobras in February 2015, appointed by then-CEO Aldemir Bendine (who was...
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