Lula's handpicked successor quits oil company for Brazilian elections

Brazilian President Luiz Inacio Lula da Silva's handpicked successor, Dilma Rousseff, on Friday announced her departure from the state-owned oil and gas giant Petrobras in order to run in the October presidential elections.

Rousseff, who presided over her last meeting in Petrobras earlier in the day, is expected to leave the post of chairwoman of the board of directors on April 3 and will be replaced by Finance Minister Guido Mantega.

Rousseff will also leave her position in government in order to compete in the upcoming elections.

Rousseff, the ruling party's presidential candidate, and Sao Paulo governor Jose Serra, an opposition candidate, are leading candidates for the October elections.

Source: Xinhua