Brazilian state-run oil firm Petrobras said on Thursday that its board of directors had approved Bruno Moretti as the firm’s new chairman.

Moretti will replace Pietro Mendes, who submitted his resignation on Wednesday after being confirmed by the Senate for a position at Brazil’s oil and gas regulator ANP.

Reuters reported earlier in the day, citing a source, that Moretti was the leading candidate to become Petrobras’ chair.

Moretti, who already has a seat on Petrobras’ board, currently serves as special secretary for government analysis in the office of President Luiz Inacio Lula da Silva’s chief of staff.

Moretti’s term as chair will last until the next general shareholder meeting, Petrobras said in a securities filing.
Source: Reuters