Petrobras CEO Ousted Amid Leadership Shake-Up and Dividend Dispute

Magda Chambriard steps in to lead Brazil's state-run oil giant, focusing on job creation and industrial growth.

New Petrobras CEO Magda Chambriard is tasked with reviving job creation and industrial development.
Investors are concerned about increased capital spending and reduced dividends under Chambriard's leadership.
Shares of Petrobras fell significantly following the announcement of the CEO change.
Chambriard's appointment aligns with President Lula's push to prioritize Brazilian industry over shareholder returns.
The executive shake-up also includes the departure of CFO Sergio Caetano Leite.