State-owned Petróleo Brasileiro SA (Petrobras) CEO Ivan de Souza Monteiro will leave the company Jan. 1, 2019. University of Chicago-trained economist Robert Castello Branco was named as the next chief executive of the Brazilian oil and gas group by Brazil’s new incoming government on Nov. 19. Petrobras, however, said it still awaits official confirmation of the appointment.
The incoming new CEO is widely said to want to push ahead with selling non-core assets and focusing on oil exploration and production, but, according to media reports, has said he has not been tasked with selling off the company.