Brazil's Vibra elects Ernesto Pousada as CEO

Brazilian fuel distributor Vibra Energia SA VBBR3 said on Monday that its board of directors elected Ernesto Pousada as its new chief executive.

Pousada was previously the CEO of logistics firm VLI Multimodal SA and "has more than 30 years of experience in business administration," Vibra said in a securities filing.

In July, Vibra's former CEO, Wilson Ferreira Junior, left the company after little more than a year in the job to return to the leadership of power giant Eletrobras ELET3.

Pousada will take office by Feb. 1, 2023 and have a 2-year term, the company said. Until then, chief financial and investor relations officer Andre Correa Natal will continue to lead the firm on an interim basis.