Scratched by corruption scandals, the loss of value and credibility of the company in the market, President Dilma Rousseff decided to take Grace Foster of the presidency and replace all of the Petrobras board in March. In order to prevent further wear and preserve the image of the institution before the successive developments of 'Lava Jato Operation', Dilma had to give up her friend, shaken and willing to step down.

The trigger was the way that Grace Foster led the disclosure of accounting and financial statement of Petrobras, referring to the third quarter 2014, a semblance of evil calculated numbers were not even yet audited. The board of the company estimated that US$ 32,5 billion was diverted as a result of corruption. But Rousseff did not agree and took the interpretation of this value as an "amateur forecast".

Suffering a strong fluctuation in the value of their actions, Petrobras and its shareholders saw their shares rise 15% to the rumors of Grace Foster output. The expectation was that her meet with President Dilma in Brasilia sealed an outcome. The names to replace Graça still being probed by the government. Joaquim Levy and Alexandre Tombini, Minister of Finance and Central Bank president, respectively, help in the search.

It is speculated about the possibility of Henrique Meirelles, former president of the Central Bank, take the vacancy left for president of Petrobras. However, Dilma not sympathize with Meirelles, which may limit their choice. The favorite is Rodolfo Landim, who worked for 26 years at Petrobras and transits between the market and the skill profile required to occupy such position. Also run out Roger Agnelli, former president of the minig company Vale, and the president of Caoa, Antonio Maciel Neto. The exchange will take place only after the publication of the audited balance.

The new president will have a big challenge ahead: renegotiate debts, restore investor confidence through the company credibility and have a firm hand to not succumb to political pressures from the government. The rating agency Fitch downgraded the risk of Petrobras note yesterday (3).