With Bolsonaro, the Admiral will chair Petrobras' board of directors – 14/01/2019 – Market



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Petrobras reported Monday (14) that the government Jair Bolsonaro had named three names on the board of directors of the public company, succeeding to renew some before the end of the terms of the group appointed by Michel Temer in 2018. [19659002] One of the candidates for Bolsonaro is the former naval commander, Admiral Eduardo Bacellar, Leal Ferreira, who will be appointed president of the collegiate.

The changes announced to the state command are made possible by the resignation of three of the councilors appointed by Temer, whose terms would expire only in 2020. According to the president of the company, Roberto Castello Branco,

In addition to Admiral Leal Ferreira, geologist John Forman and economist João Cox were named on Monday. Previously, Bolsonaro had already told the collegiate the current president of the company.

Parent company, the union has the right to appoint eight of the eleven members of the board of directors. The other three are appointed by minority shareholders and company employees. Bolsonaro will have appointed half of the vacancies in the Union.

"This cycle is complete.A new era begins with a long-term strategic vision and the goal of generating value for shareholders and"

Since the transition period, the Government pressured the advisers to quit so they could renew a portion of the company's badets, from the college before the end of the mandates, in 2020.

The former president Council, Luiz Nelson Guedes Carvalho, and lawyer Francisco Petros resigned early in the year. On Monday, Durval Soledade informed the company that he would also resign. He would remain a member of the minority committee and the company's statutory audit committee.

The government also requested the resignation of naval engineer Segen Estefen, still appointed by Dilma, in 2015.

Leal Ferreira is the first member of the military to serve on the council since General Francisco de Albuquerque, representative of the military governments. In the middle of the most difficult phase of the crisis in society, Dilma renewed the collegiate by placing only leaders recognized on the market in place of people related to the government.

Forman is a recognized oil consultant, having a university career at the UFRJ. and pbaded through the ANP (National Agency for Oil, Gas and Biofuels) under the Lula government. Cox is an economist and has experience in boards of directors. He currently chairs TIM's board of directors.

In a note, Petrobras stated that the indications would be subject to the company's governance procedures, including badyzes of the candidates' integrity. They will then be referred to a general meeting of shareholders.

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