Bloomberg News

Petrobras Promotion of Foster Would Be Positive, Bradesco Says

January 23, 2012

Jan. 23 (Bloomberg) -- Petroleo Brasilero SA would benefit from the promotion of Maria das Gracas Foster as the company’s Chief Executive Officer, Bradesco analyst Auro Rozenbaum said in an interview.

Chief Executive Officer Jose Sergio Gabrielli will resign his post next month and be replaced by Foster, the O Globo newspaper reported on its website Jan. 21, without saying where it got the information. Petrobras’s press office has declined to comment.

“We have a positive view of her. She is a politically strong figure, connected to the president,” Rozenbaum said in a telephone interview from Rio de Janeiro. “Without a doubt, because of her technical profile for a company like Petrobras it may end up having some advantages.”

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Peter Millard at pmillard1@bloomberg.net


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