BMLpL

Bank of America Corporation Bank of America Corporation Depositary Shares (Each representing a 1/120

22.3200
USD
0.68%
22.3200
USD
0.68%
18.4500 25.9100
52 weeks
52 weeks

Mkt Cap 116.06B

Shares Out 5.20B

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Bolsonaro's pick for Petrobras CEO gets OK from eligibility committee

SAO PAULO, June 24 (Reuters) - Brazilian oil giant Petrobras' eligibility committee on Friday gave the go-ahead for the government's pick to be nominated as the next chief executive. The approval puts former Economy Ministry official Caio Paes de Andrade on the doorstep of the CEO position a month after he was initially chosen. He still needs to be nominated to the board of directors by its current board, which will then confirm him as CEO. Although non-binding, the committee's opinion was necessary for the board to schedule the general meeting, which is expected to take place early next week. Andrade is set to be the sixth man to hold the position since President Jair Bolsonaro took office in 2019, as fuel price hikes have prompted continuous complaints from the far-right leader, who faces a tough re-election bid in October. (Reporting by Peter Frontini; Editing by Leslie Adler) ((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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