Brazil: Gabrielli Steps Down as Petrobras’ CEO

Brazil’s oil company Petrobras has confirmed the news published by the press claiming that the company’s CEO Mr. José Sérgio Gabrielli de Azevedo will step down from its current position.

The company’ Board of Directors president, Guido Mantega, already informed that the current Gas & Energy Director, Maria das Graças Silva Foster, will be indicated as Petrobras CEO at the Board’s next meeting, to be held February 9.

Mr. José Sérgio Gabrielli de Azevedo has been at the helm of Petrobras since June 22 2005 and has lead Petrobras during a period of enormous growth, that’s seen it become the second largest oil company in the world by market value, and encompassed the discovery of vast deep water oil and gas reserves in the pre-salt area – the most important new petroleum discovery of the last 10 years.

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Offshore Energy Today Staff, January 24, 2012; Image: Petrobras