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Brazil’s largest exchange BM&FBOVESPA announced today that its Chairman of the Board of Directors, Mr. Pedro Pullen Parente has accepted an invitation to become Chief Executive Officer of Petrobras. The position is still subject to the approval of the Board of Directors of Petróleo Brasileiro S.A. Petrobras.
The announcement reiterates that the new position of Parente is not going to affect his duties at BOVESPA. With the lack of inherent conflicts of interest between the corporate governance bodies of both companies, his tenure as Chairman of the Board of BM&FBOVESPA will continue as is.
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