Members of Petrobras’ top management, including CEO Maria das Graças Foster and five other senior officials, resigned Feb. 4 in the wake of a corruption scandal, according to Reuters.
Brazilian federal prosecutors accuse Petrobras executives of bribery and money laundering. The illegal activity involved at least 23 billion reais ($8.9 billion) of suspect payments, bribes, and kickbacks to politicians. The investigation, which police have called Lava Jato (Car Wash), has revealed massive illicit payments from contractors to Petrobras directors. More than 80 people have been charged in connection with the scandal.
While not officially accused of direct involvement in the corruption, Foster is suspected of ignoring tip-offs about the money laundering activities within the company.
The Petrobras board of directors will meet Feb. 6 to elect a new management team.