Petrobras’ board of directors approved the early termination of Caio Paes de Andrade’s term as president of the state-owned company, the company said in a note this Wednesday (4). The measure already takes effect from this Wednesday, according to the announcement.
With the departure of Paes de Andrade, the board of directors appointed João Henrique Rittershaussen, executive director of production development, as interim president of the company.
“Petrobras informs that its Board of Directors, in a meeting held on this date, approved the early termination of Mr. Caio Mário Paes de Andrade’s term as President of Petrobras, with effect from today”, stated the state-owned company.
The company also announced that Paes de Andrade has resigned as a member of the company’s board of directors.
João Henrique Rittershaussen has been with Petrobras for 35 years. According to the company, he has held several managerial roles, including the position of executive manager.
Rittershaussen holds a degree in electrical engineering from UFMG (Federal University of Minas Gerais) and in petroleum engineering from Petrobras, with an MBA in business management from Coppead (Institute of Graduate Studies in Administration at UFRJ) and an Advanced Management Program from Insead (Institut Européen d’Administration des Affaires), in France.
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