Petrobras to name Parente as CEO

The board of Brazil's state-run oil producer Petroleo Brasileiro SA will meet on Monday to formalize the nomination of Pedro Parente as chief executive, replacing Aldemir Bendine, according to a securities filing on Friday.

Parente, a 63-year-old engineer and one-time chief of staff to former President Fernando Henrique Cardoso, was appointed by interim President Michel Temer as Petrobras faces a financial crisis brought on by low world oil prices, crippling debt and a massive corruption scandal.

Reporting by Silvio Cascione