As the new CEO of Petrobras, Magda Chambriard has been tasked by President Luiz Inacio Lula da Silva to focus on boosting Brazil’s economy while maintaining profitability at the oil firm. This aligns with Petrobras’ vision for the country and is in line with the priorities of the president.
President Lula emphasized the importance of not causing shareholders to lose any money and ensuring that Petrobras remains a profitable company. This came after the previous CEO, Jean Paul Prates, was fired due to concerns that he would prioritize economic growth over shareholder interests, resulting in a drop in Petrobras’ stock value.
Chambriard’s main focus is to accelerate Petrobras’ $102 billion investment plan for the 2024-2028 period, with the potential to create thousands of jobs. She recently announced her new management team, consisting of directors with technical expertise and a background in Brazil’s state-run companies.
Following the event, Chambriard stated that she does not anticipate any further changes in Petrobras’ senior management team. This signals stability and continuity in the company’s leadership as it works towards achieving its goals under her leadership.