Petrobras names new CEO

10 February 2012, Sweetcrude, RIO DE JANEIRO – Brazilian state-run energy giant, Petroleo Brasileiro (Petrobras) has named Maria das Gracas Foster as the new chief executive officer.

She was elected by the company’s board of director and will take over the post from outgoing CEO Jose Sergio Gabrielli on Monday, Petrobras said.

Gabrielli, who served as CEO since 2005, is leaving Petrobras to pursue a career in politics in his home state of Bahia. Gabrielli has long held political aspirations and has close ties to the ruling Workers’ Party, known as the PT, of Brazilian President Dilma Rousseff.

Maria das Gracas Foster

has worked at Petrobras for 31 years and has been Director for Gas and Energy and CEO of Gaspetro – Petrobras Gás S.A – since 2007.

She has a Bachelor’s Degree in Chemical Engineering from the Federal Fluminense University (UFF), a Master’s Degree in Chemical Engineering and a Post-Graduate Degree in Nuclear Engineering from the Rio de Janeiro Federal University. She also has an MBA in Economics from Fundação Getulio Vargas.

In addition to occupying various executive level positions in the Company, Maria das Graças Foster has been CEO of Petroquisa – Petrobras Química S.A., and CEO and CFO of Petrobras Distribuidora S.A.

She is Chairwoman of the Board of TBG – Transportadora Brasileira Gasoduto Bolívia-Brasil S.A., and TAG – Transportadora Associada de Gás S.A, and is member of the Board of Directors of Transpetro – Petrobras Transporte S.A., Petrobras Biocombustível S.A. and Braskem S.A.

In her career, she was also Secretary of Oil, Natural Gas and Renewable Fuels at the Brazilian Ministry of Mines and Energy from January 2003 to September 2005.

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