Petrobras CFO Ivan Monteiro Replaces Parente as CEO

Ivan Monteiro has been named to head Brazilian state-controlled oil company Petrobras on an interim basis, replacing Chief Executive Officer Pedro Parente who resigned Friday. Monteiro, who has been chief financial officer since 2015, was given the interim job during a board meeting that came just hours after Parente stepped down following intense criticism during a trucker strike that crippled Latin America’s biggest economy. Monteiro previously held the CFO role at Banco do Brasil SA. Since joining Petrobras, he oversaw a reduction in the company’s total debt, resumed regular financial statements after reaching an agreement with auditors, and successfully extended the company’s debt payment schedule.