Banco do Brasil's Aldemir Bendine Appointed Petrobras President

02/06/2015 - 11h06

Aldemir Bendine, president of Banco do Brasil, has been chosen by President Dilma Rousseff to replace Graça Foster at the head of Petrobras.

Bendine has been president of Banco do Brasil since April 8 2009, replacing Antonio Francisco de Lima Neto.

He was appointed during Lula's second term to reduce bank interest and increase credit.

On Wednesday (4), Foster resigned from Petrobras along with five other directors.

The company's administrative council meets on Friday (6) morning to appoint new replacements.

The council consists of ten people and is chaired by Guido Mantega, ex-finance minister. Mantega was appointed by the majority shareholder - in other words, the government.

The other members are councilors.

Graça Foster is also participating. Below are the members, along with who elected them:

-Guido Mantega, elected by the majority shareholder.

-Maria das Graças Silva Foster, elected by the majority shareholder.

-Luciano Galvão Coutinho, president of the National Development Bank (BNDES), elected by the majority shareholder.

-Francisco Roberto de Albuquerque, elected by the majority shareholder.

-Márcio Pereira Zimmermann, executive secretary at the Ministry of Mines and Energy, elected by the majority shareholder.

-Sérgio Franklin Quintella, elected by the majority shareholder.

-Miriam Aparecida Belchior, ex-minister of planning, elected by the majority shareholder.

-José Guimarães Monforte, elected by preferred stockholders.

-Mauro Gentile Rodrigues da Cunha, elected by minority shareholders.

-Sílvio Sinedino Pinheiro, elected by employees.

RESIGNATION

The collective resignation occurred after the directors rejected President Rousseff's plans for a reshuffle at the head of the company.

Rousseff wanted them to stay until the end of the month to help ease the transition.

Foster was thus forced to inform Rousseff that she was unable to persuade her colleagues to stay, and that the changes would have to be brought forward, to this Friday (6).

Having previously rejected Foster's resignation, Rousseff now accepted it.

Her position changed after Petrobras' administrative council last week published a reduction in company assets to the tune of US $31.9 billion, the result of corruption, and inefficiency in company projects.

Translated by TOM GATEHOUSE

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	Simon Plestenjak - 31.ago.12/Folhapress
	Aldemir Bendine, president of Banco do Brasil, has been chosen by President Dilma Rousseff to replace Graça Foster