Brazilian state-owned oil company Petrobras last week nominated Murilo Ferreira, chief executive officer for global mining company Vale, as its new chairman. The nomination comes at a time when the company faces several investigations for its involvement in a widespread money-laundering scandal.
Petrobras will vote on Ferreira’s nomination at its next annual shareholders meeting on April 29. Ferreira’s nomination comes just one day after Petrobras announced the resignation of Brazil’s former finance minister Guido Mantega as chairman. Mantega has served as chairman of Petrobras’ board since 2010.
On March 26, the company announced that Luciano Coutinho, who heads the country’s development bank BNDES, will serve as interim chairman of Petrobras until next month’s board vote.