Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster.
Brazil pledged major investment and technology transfer to Africa to repay a solidarity debt from a country with a huge black population to the poorest but resource-rich continent.
Maria da Gracas Foster, (58), will be head of Brazil’s largest corporation, Petrobras as of next February. This is the first time that the Brazilian oil corporation among the largest in the world will have a woman as CEO.