Castello Branco To Be New Petrobras CEO Under Bolsonaro

Brazil’s incoming far-right government on Nov. 19 tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company’s assets.

The nomination of Roberto Castello Branco is the latest in a string of business-friendly appointments by President-elect Jair Bolsonaro, who takes office on Jan. 1.

Castello Branco, a member of Petrobras’s board until 2016, has also held executive positions at Brazil’s central bank and at iron ore miner Vale SA.