Political Risk Latin America Blog @PolRiskLatam

Ousted Palocci takes his job as member of Petrobras administration council

Posted in News and Articles, Political Risk by politicalrisklatam on June 9, 2011

by Merco Press News, June 9th, 2011.

Antonio Palocci, who on Tuesday stepped down as President Dilma Rousseff’s chief of staff over questions about his personal finances, will be taking a seat at Petrobras Administration Council, confirmed Brazil’s oil giant president Sergio Gabrielli.

“He is a highly competent man and his resignation from government is not linked at all with his nomination to the corporation”, said Gabrielli who revealed Palocci was elected to the post during an ordinary general assembly of the corporation’s shareholders.

“Petrobras councillors are elected during the once a year ordinary general assembly and spend one year in the job. Former minister Palocci is most competent and qualified and the fact he resigned from government is not linked to his mandate”, said CEO Gabrielli.

“The job belongs to the person elected, and it is not a post for a minister or former minister” he emphasized. (continue reading… )


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