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Pedro Parente, Ex Fernando Henrique Cardoso Minister, To Head Petrobras

05/20/2016 - 10h17

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VALDO CRUZ
GUSTAVO URIBE
FROM BRASÍLIA

NICOLA PAMPLONA
FROM RIO

This Thursday (19) Michel Temer (PMDB-SP) confirmed his decision to appoint Pedro Parente as President of Petrobras, the state-owned company at the heart of the corruption scandal investigated by Operation Lava Jato.

Parente, Fernando Henrique Cardoso's former Chief of Staff, accepted the appointment. He admitted, in a press conference at the Planalto Palace, the seat of government in Brasilia, there would be no political intervention in Petrobras.

This follows a request from Temer that the government would no longer influence the way the company managed its affairs.

"I want to make this clear: there will be no political input in the future decisions made by Petrobras. This is going to make my life easier and the board's as well. If government were to try and get involved, which it has promised it won't, it is obvious its input would be rejected."

The Lava Jato investigations have revealed a corruption scheme at work within the company. In the past, directors, nominated by political parties such as the Workers' Party, the Brazilian Democratic Movement Party and the Progressive Party, wrote off billions of dollars in bribe payments during the governments of Lula and Dilma.

Parente acted as Minister in Fernando Henrique Cardoso's second mandate. He also presided over the team charged with preventing an energy crisis in 2001.

The appointment of Parente is part of Temer's strategy to create a cabinet of political giants. Parente's name appears alongside those of Henrique Meirelles (Finance), Maria Silvia Bastos Marques (BNDES) and Ilan Goldfajn (Central Bank).

Parente stated that Petrobras "has big challenges to face" and that he is "aware" of his responsibility.

Questioned whether he would make changes to the leadership at Petrobras, the future President responded:

"I might, and then again I might not. This is the prerogative of any Executive-President. Of course, these are all conversations that would have to be held with the board."

Current CEO of Petrobras, Aldemir Bendine, was informed this Thursday afternoon that Parente had been nominated. The change of hands is expected to be discussed by the board in a meeting scheduled for next Monday (23).

Translated by GILLIAN SOPHIE HARRIS

Read the article in the original language

Sergio Lima/Folhapress
Michel Temer confirmed his decision to appoint Pedro Parente as President of Petrobras
Michel Temer confirmed his decision to appoint Pedro Parente as President of Petrobras

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