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Petrobras appoints new CFO, investor relations officer

State-controlled Petróleo Brasileiro SA - Petrobras said March 18 that Andrea Marques de Almeida was appointed chief financial and investor relations officer of the company.

Rafael Salvador Grisolia, who had been holding the position temporarily and also serves as Petrobras' chief exploration and production officer, was named CEO of Petrobras Distribuidora SA, a subsidiary of Petrobras.

The current president at Petrobras Distribuidora, Ivan de Sá, will return to Petrobras, where he had worked for 30 years, taking on several executive functions.

The nominations must be approved by Petrobras board of directors.

With Brazil's new president Jair Bolsonaro taking office Jan. 1, Petrobras leadership has been in flux over the last few months. New CEO Roberto Castello Branco was sworn in Jan. 3.

The scandal-plagued Petrobras is looking to sell around $10 billion in assets in the first four months of the year, Reuters reported March 15. The assets include the Transportadora Associada de Gas natural gas pipeline network, which is expected to sell for up to $9 billion.

The divestitures are part of a wider Petrobras plan to develop its offshore production and unload more than $20 billion worth of assets to help pay down its massive debt.