Assembly elects eight members to the Petrobras Board this Friday (19)

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This Friday (19), at 1:00 pm, the general meeting of Petrobras shareholders that will elect a new composition of the company’s Board of Directors and the new president of the group. Eight of the 11 chairs are at stake. Eight nominees from the federal government and two from minority shareholders are running.

Attention will be focused on two specific names, appointed by the federal government: Jonathas Assunção de Castro, number 2 of the Ministry of Civil House, and Ricardo Soriano de Alencar, Attorney General of the Treasury. The two had their names disapproved by the current composition of the CA and by the Eligibility Committee due to conflict of interest.

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In the case of Castro, Celeg warned of the impediment for exercising a political office. As for Alencar, as he is the Treasury Attorney General and defends the Union, he could end up in situations in which Petrobras and the Union antagonize.

In the assembly manual released by Petrobras, initially, both were not included, only the other six chosen by the government: Gileno Gurjão Barreto, appointed to the presidency of the Board, Caio Mario Paes de Andrade, current president of the company, Edison Antonio Costa Britto Garcia, Iêda Aparecida de Moura Cagni, Márcio Andrade Weber and Ruy Flaks Schneider.

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However, the Ministry of Mines and Energy maintained the choices, stating that it did not find the alleged impediments pointed out by the Eligibility Committee.

Relevant facts released later confirmed the names. On August 11, Petrobras announced the receipt of a letter from the Ministry of Economy ratifying the name of Ricardo Soriano de Alencar. On August 15, it was the turn of a communiqué about a letter received from the Ministry of Mines and Energy, with the choice of Jonathas Assunção de Castro.

Petrobras had questioned the Securities and Exchange Commission on how to proceed when an appointment violates the State-Owned Companies Law. The company asked whether it should call the meeting without including the nominees and what to do if “the number of candidates considered as closed by the Board of Directors makes it impossible to fill the available vacancies.

To Petrobras, in early August, the CVM stated that “if a violation of §1 of art. 147 of Law No. 6,404/76, any responsibilities will be determined by the Superintendence of Business Relations”, and pointed out that “it is surprising that the controlling shareholder has kept the nominations of the two candidates considered ineligible by the Board of Directors.”

The National Association of Oil Workers Shareholders (Anapetro) even submitted a request to the CVM to suspend the vote, due to the indications of Castro and Alencar. But, according to the state-owned company, the request was denied due to untimeliness, vices and formal deficiencies. The commission did not assess the eligibility or otherwise of the candidates.

CNN questioned Petrobras about what should happen if the assembly chooses the two among the members of the Board, but there was no response.

Source: CNN Brasil

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