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Petrobras Management Quits, Race On to Find Replacements

The chief executive and other senior management at Brazil's Petrobras resigned on Wednesday amid a festering corruption scandal, unleashing a scramble to find replacements capable of restoring investor confidence in the state-run oil company. The firm's board of directors will meet on Friday to elect a new management team to replace CEO Maria das GraEcas Foster and five other senior executives, Petrobras said in a securities filing. Petrobras shares rose more than 6 percent in...

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