Petrobras assigns Magda Champillard as new leader amid period of instability
Date
5/26/2024 5:07:47 AM
(MENAFN) On Friday, the Brazilian oil giant Petrobras announced that Magda Chamberillard has commenced her term as president of the public company. This follows her government-approved appointment by the board of directors, succeeding Jean-Paul Prats, who was dismissed last week. In a statement, Petrobras confirmed that Chamberillard, the former director of the National petroleum Agency—the sector’s regulatory body—has joined the board of directors and has been elected as the president of the company.
Petrobras, Brazil’s largest company with the state owning over half of its capital, revealed that Chamberillard assumed her duties immediately. The company is currently navigating a period of instability, having seen six presidents in just over three years. This turnover comes as major oil companies face the critical challenge of transitioning to more sustainable energy sources. The recent dismissal of Chamberillard's predecessor, Jean-Paul Prats, on May 14, followed a disagreement over dividend payments. Prats had been appointed in January 2023 by leftist President Luiz Inacio Lula da Silva, to whom he was closely allied.
Chamberillard's leadership comes at a pivotal moment for Petrobras as it contends with internal instability and the broader industry challenges posed by the global energy transition.
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