Brazilian President Jair Bolsonaro fired the CEO of the Petrobras oil giant for refusing to lower fuel costs.
Brazil, like much of the world, faces spiking inflation and rising gas prices, and Bolsonaro faces re-election in October.
Brazil's President Jair Bolsonaro arrives to meet CEO, and chief engineer at SpaceX, Elon Musk, at the event Conecta Amazonia in Porto Feliz, Sao Paulo state, Brazil on May 20, 2022. Bolsonaro appointed Caio Mario Paes de Andrade to replace Coelho. Andrade currently serves in the country's economy ministry. The Brazilian government holds a majority of the voting shares in Petrobras. Bolsonaro also called for a re-election of the company's board, as Andrade must first be elected to the body before he can be voted in as CEO, according to Reuters.
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