Petrobras CEO Coelho quits amid fuel price criticism
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Petrobras CEO Coelho quits amid fuel price criticism

Coelho has also resigned as board member

  • By ICN Bureau | June 21, 2022
Petrobras (PBR) said on Monday that CEO Jose Mauro Coelho had resigned and an interim CEO would be appointed for the board's consideration, following a fuel price increase that angered Brazil's President Bolsonaro and many lawmakers.
 
Bolsonaro already fired Coelho in May and named a replacement, but he remained in the role while the company went through the formal process for naming a new CEO.
 
Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that CEO Executive Jose Mauro Coelho had resigned on Monday morning and an interim CEO would now be appointed for the board's consideration.
 
The interim CEO would become Petrobras' fourth chief executive since Brazilian President Jair Bolsonaro took office in 2019.
 
According to Petrobras, Coelho has also resigned as board member.

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