Petrobras CEO is diagnosed with cancer, local media

The executive president of the Brazilian oil company, Caio Paes de Andrade, has been diagnosed with cancer, according to local media reports.

The manager has started treatment for head and neck carcinoma, according to the reports, basing his data on an internal statement from Petrobras (NYSE:PBR).

Petrobras said in a note to Reuters on Friday that Andrade is starting health treatment but continues to work as normal.

He declined to provide further details to maintain his privacy. Andrade, a former Economy Ministry official, took the reins of Petrobras in June after his predecessor, José Mauro Coelho, resigned amid controversy over the company’s fuel price policy.

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