Argentina’s government has appointed lawyer Pablo González as the new president of state energy giant YPF, state news agency Telam said Jan. 20, as the firm grapples with the impact of the coronavirus pandemic and rising pressures over debt.

González would replace Guillermo Nielsen, who said on Twitter that he had been offered a new government role and that his exit from YPF was being “finalized.”

YPF’s shares, which have been hit by concerns over plans to restructure the firm’s debts and a potential standoff with creditors, fell more than 7% on Jan. 20 in trading in Buenos Aires.