Aldemir Bendine has been the company’s chief for 11 months. In Portuguese that stands for Tuesday, Wednesday, Thursday—the three days a week that Mr. Bendine typically shows up at the troubled oil giant’s headquarters. The implication, according to people familiar with the matter, is that Mr. Bendine spends too much time in São Paulo, where he lives, and not enough at the energy giant’s nerve center in Rio. It also reflects mounting frustration among Petrobras executives, board members and investors, some of whom say the 52-year-old executive hasn’t done enough in his first year to tackle the company’s myriad problems. “The results have been below expectations in my opinion,” says Adriano Pires, a longtime oil consultant in Rio. “The initiatives that have been taken are very small considering the challenges that Petrobras faces.” President Dilma Rousseff chose Mr. Bendine for the top job last February to help clean up […]