Petrobras Distribuidora appoints interim CEO

January 28, 2016

Petrobras Distribuidora SA, the fuel distribution and marketing unit of state-run oil company Petroleo Brasileiro SA (Petrobras), announced the election of Ivan de Sá Pereira Junior as its interim chief executive.

The company also said it has extended the term of its chairman, Segen Farid Estefen, for another year.

Petrobras has said it wants to sell at least 25% of the unit to a strategic partner to pare down some of its debt.

Petrobras CEO Aldemir Bendinehe said that the company’s 2015-2019 Business and Management Plan foresees divestments totaling USD 15.1 billion in the 2015-2016 period.