Petrobras Names Head of New Governance, Risk and Compliance Unit

Brazil's state-run oil company Petroleo Brasileiro SA on Tuesday named Joao Adalberto Elek Junior as its first head of governance, risk and compliance, part of efforts to ease investor concerns in the wake of a giant corruption scandal.

 

Elek was a member of the committee that reported to the board on work by law firms hired to investigate a price-fixing, bribery and political kick-back scheme at the company.

 

Previously Elek, who has a degree in electronic engineering, has worked as chief financial officer for the Brazilian operations of Citigroup Inc and AT&T Inc, the company is known as Petrobras said in a statement.

 

Elek has also served as CFO of a Brazilian cellulose group and of a major local cable TV company.