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Petrobras CEO resigns; company's shares drop more than 10%

Pedro Parente stepped down as CEO of state-run Petroleo Brasileiro SA, or Petrobras, in the wake of a truckers' strike over the company's diesel prices, it said in a June 1 statement.

After the news of Parente's departure, the company's shares were down more than 10% to $10.65 per share on the NYSE.

The company's board of directors is expected to choose an interim CEO.

Days earlier, José Alberto De Paula Torres Lima resigned from the Petrobras board for to personal reasons.