October 25, 2018 / 1:49 PM / a year ago

Brazil's Bolsonaro mulls military appointee to run Petrobras -report

SAO PAULO (Reuters) - Jair Bolsonaro, the far-right front-runner in Brazil’s presidential election, is mulling a “military name” to take over as chief executive officer of state-run Petroleo Brasileiro SA, the O Estado de S. Paulo newspaper reported on Thursday.

The head of Bolsonaro’s party had previously said that if the far-right candidate is elected, he would replace the chief executives of several state-owned companies.

Current CEO Ivan Monteiro has only been at the helm of the company since June, after a nationwide protest over rising diesel prices prompted the government to introduce fuel subsidies. The move led former CEO Pedro Parente to resign.

Reuters reported earlier this month that Bolsonaro’s top economic adviser, who favours a privatisation of Petrobras, is at odds with the candidate’s inner circle of military generals who prefer to maintain the oil company as a strategic state asset.

Reporting by Carolina Mandl; editing by Chizu Nomiyama and G Crosse

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