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Business & Finance

Banco do Brasil says has had no word from govt about CEO change

  • Local media reported that Brazilian President Jair Bolsonaro had decided to fire Brandao.
  • Bolsonaro's supporters in Brasilia early on Thursday asked him about the potential dismissal of Brandao.
14 Jan 2021

SAO PAULO: State-controlled Banco do Brasil SA said on Thursday that it has received no information from the government about the dismissal of CEO Andre Brandao.

On Wednesday, local media reported that Brazilian President Jair Bolsonaro had decided to fire Brandao, who has been in the post less than four months, after he launched a plan to close 361 branches and an employee buyout program.

Bolsonaro's supporters in Brasilia early on Thursday asked him about the potential dismissal of Brandao, but he did not respond.