U.S. Markets closed

Brazil's president sets plan to replace Petrobras management: source

Petrobras Chief Executive Maria das Gracas Silva Foster is seen arriving at the Brasilia international airport after meeting with President Dilma Rousseff February 3, 2015. REUTERS/Ueslei Marcelino

BRASILIA (Reuters) - Brazil's President Dilma Rousseff accepted an offer by Petrobras Chief Executive Officer Maria das Graças Foster to step down this month, setting in motion a plan to replace senior management at the embattled state-run oil company, a government source said on Tuesday.

Earlier on Tuesday, presidential spokesman Thomas Traumann denied that Rousseff and Foster reached a conclusion about her possible resignation in a meeting at the presidential palace. [ID:nL1N0VD11B]

(Reporting by Luciana Otoni; Editing by Lisa Shumaker)