Bolsonaro Government tries to increase its presence on Petrobras' board of directors – 12/01/2019 – Market



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Once the changes made to Petrobras' board of directors, the government now seeks to renew a portion of the board of directors of the company, whose representatives were elected in January. 2018 for a two-year term.

Responsible for approving strategic decisions and overseeing the management of the company, the board of directors of Petrobras has eleven seats, one of which is occupied by the president of the company Roberto Castello Branco

It was completely remodeled at the beginning of the second term of Dilma Rouisseff, who replaced the ministers and other government officials with names recognized by the market, including Castello Branco himself

of the Current membership was elected at a general shareholders' meeting in April 2018 and could therefore remain with the company until 2020. However, the government has already warned that it would like certain among them resign – the last chairman of the board, Luiz Nelson Guedes Carvalho, and lawyer Francisco Petros did it earlier in the year.

The main target would now be the marine engineer Segen Estefen, professor of UFRJ is still appointed in the Dilma government. The goal is to appoint members of management more in line with the current management, who talk about accelerating the sale of badets in order to focus more on the activities prior to the treatment of salt .

In addition to Estfen, the Union representatives on the board of directors are currently Jerônimo Antunes. since the resignation of Carvalho), Ana Lúcia Poças Zambelli, Clarissa of Araújo Lins and Castello Branco himself.

The mandate was extended for two years from 2016, which prevents the elected government from renewing its mandate. Until then, it was only a year ago.

The new management of Petrobras has already completed the process of renewal of the board of directors, replacing four of the seven directors. Three of the poor – Solange Guedes, Hugo Repsold and Jorge Celestino – were also remnants of the Dilma government.

Castello Branco has appointed Carlos Alberto Pereira Oliveira (Exploration and Production), Lauro Cotta (Strategy), Rudimar Lorenzatto (Development of Production and Technology) and Anelise Quintão (Refining and Gas). The latter was responsible for implementing the company's divestment program and his appointment is seen as a sign that the reduction of state involvement in both segments will be accelerated.

Petrobras has not yet commented on the case. President Luciano de Castro, who also participated in the transitional group of the Bolsonaro government, and the diplomat Roberto Ardhengy, who leaves Itamaraty in New York to take on the chief of staff of Castello Branco.

He also told the state employee, Carlos Victor Guerra Nagem, to the General Directorate of Security and Business Intelligence. Under the nickname of Captain Victor, he was twice a candidate for a public office in Paraná, with the support of Bolsonaro, who called him a "private friend".

Without ever occupying a position of trust in the state, Nagem was elevated to second place. hierarchy of the company, with a salary of about R $ 50,000. In social media, Bolsonaro has defended the bid with a series of protests since Thursday evening [10].

In the latest commentary on the subject, on Friday night (11), the President showed a picture of the previous director, Regina de Luca, at a PT event. "Captain Nagem will occupy the position of Regina Miki in the post of Chief of Security," he wrote.

Petrobras states that the candidate's CV is adapted to the position. However, the appointment still depends on the approval of the internal control bodies.

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