Brazilian state-run oil company Petrobas has appointed a new chairman.
The company named Luciano Coutinho, head of the country’s state development bank BNDES, as a replacement for Guido Mantega.
Coutinho has been a board member of Petrobas since 2008 and has led BNDES for almost eight years.
Petrobas has been hit by the widening corruption scandal surrounding the company.
At least $800million was paid in bribes and other funds by the nation’s biggest construction and engineering firms in exchange for inflated Petrobras contracts.