01:10 PM EDT, 05/15/2024 (MT Newswires) -- (Updates with stock movement and additional details.)

Petroleo Brasileiro (PBR), or Petrobras, shares were down 7%, after the board approved the early termination of Chief Executive Jean Paul Prates, effective immediately.

The company also appointed Clarice Coppetti, executive director of corporate affairs, as interim CEO, multiple media outlets reported Wednesday.

Prates also resigned as a member of the Petrobras board.

Additionally, the board removed Sergio Caetano Leite as chief financial officer.

Petrobras did not immediately respond to MT Newswires' request for comments.

Price: 15.52, Change: -1.17, Percent Change: -7.01