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Back on May 23, the Brazilian government announced that, yet again, it would be replacing the chief executive officer of oil and gas firm Petrobras. This was the third time President Jair Bolsonaro had jettisoned a CEO of the state-controlled company in connection with rising fuel prices. The current CEO, José Mauro Coelho, lasted just 40 days before the government decided to show him the door.
His replacement, pending approval from the board, is Caio Paes de Andrade, the current Debureaucratization Secretary in the Economy Ministry and a self-described “serial entrepreneur” with no experience in oil and gas.
In…
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