Brazil’s state-controlled oil and gas giant Petrobras has confirmed that Rodolfo Landim currently president of a football club with the highest market value in Brazil, Flamengo will most likely become its new chairman.
He should take over from Admiral Eduardo Bacellar Leal Ferreira and be named new chair of the board at Petrobras’ annual general meeting on April 13. The Brazilian government has also appointed another seven names to the board, including Petrobras’ CEO Joaquim Silva e Luna, who will have his term at the board renewed.
Landim (pictured) worked at Petrobras for 26 years where he held various managerial positions, including president of BR Distribuidora before creating his own oil company, Ouro Preto Óleo e Gás, which was sold in 2020. He has been the president of Flamengo since 2019.
The move comes ahead of the country’s presidential elections in October and pressure from Petrobras’ investors to adjust fuel prices. Petrobras has not increased gasoline and diesel prices in the country for close to two months, despite the Brent crude approaching $130 mark.
