Latin America’s largest firm, Petrobras, named its first female CEO this year. Maria das Gracas Foster is the first woman to lead a major oil company, and will take charge of $225 billion investment budget through her position leading the 34th ranked Fortune 500 company for the next four years.
Though more than 40 percent of Latin America is led by a female political leader – including Costa Rica, Jamaica, Argentina, Brazil, and Trinidad and Tobago – the private sector has been slower to see women rise to top leadership positions, reports the Monitor. Ms. Gracas Foster joined Petrobras as an intern 32 years ago and worked her way to the top, reports the BBC.

Felipe Dana/AP
Maria das Gracas Foster delivers a speech after being introduced as the first female chief executive for the Brazilian state-controlled oil company, Petrobras, in Rio de Janeiro, Feb. 13.