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Board discussed CEO change, but no decision was made, says Petrobras

Petrobras reported this Thursday (9) that it discussed at a meeting of the Board of Directors, the day before, a change in the executive president requested by the Union on May 23, but added that the collegiate did not take any new deliberation regarding the topic beyond of the already communicated on May 25.

At the meeting on the 25th, the Petrobras board decided to submit the name of the nominee for the position of CEO, Caio Mario Paes de Andrade, to the internal governance process, as provided for in the Senior Management Membership Policy.

On that occasion, Petrobras also listed other steps for the replacement of the CEO, which should imply changes in the board of directors, after the government appoints Andrade to replace José Mauro Ferreira Coelho.

Because Coelho was elected by the multiple vote system as a counselor and then as CEO, the government must send names again to the collegiate, which must also be analyzed by the People’s Committee.

Petrobras’ statement on Thursday commented on news published in the media, without making a specific reference.

This Thursday, columnist Lauro Jardim said that the government would have a proposal to dismiss the company’s board, which would involve a move by the board.

The news has indicated that the government is unhappy with the delay in the process, triggered by President Jair Bolsonaro’s discontent with the company’s fuel pricing policy.

Reuters published at the end of May that a new rule for appointing directors to the state-owned company, published by the government itself, could result in a deadline of about 60 days for the approval of names, if the Personnel, Eligibility, Succession and Remuneration Committee (Celeg) take time for approval.

Source: CNN Brasil

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