Cleveland Jones, professor and researcher at the National Institute of Oil and Gas at the State University of Rio de Janeiro: “Magda Chambriard’s career includes long stints at Petrobras, ANP (Brazil’s national petroleum agency) and PPSA (where she was in charge of pre-salt contracts and government participation). Her appointment should reassure the market, as she has experience and technical competency. In turn, her choices for key directors have also been along that line. Despite critics’ claims that Fernando Melgarejo doesn’t have sufficient experience for a CFO appointment, his banking and pension background should allow him to be effective in retaining Petrobras’ BB rating from Fitch and its Ba1 rating from Moody’s (which is above Brazil’s rating), and to navigate dealings with the government and Petrobras investors, the main challenges of the position. Renata Baruzzi has engineering and logistics experience, having been executive manager of engineering, technology and materials, and she represents…”