The government has decided that it will keep the two nominations to the Petrobras Board of Directors that were vetoed internally by the company, according to sources at the Ministry of Mines and Energy.
The names of Jonathas Assunção de Castro, executive secretary of the Ministry of Civil House, and Ricardo Soriano de Alencar, attorney general of the Treasury, were rejected by the company’s Eligibility Committee. The current board of directors met and maintained the veto of both.
The government can, however, insist on the nominations and go on to elect them at the General Assembly, convened for August 19. There is support in Petrobras’ statute for the measure. For this, the government will have to gather the necessary number of votes at the meeting, in which minority shareholders also vote.
According to a senior government source, there is confidence in the technical quality of the names submitted. The assessment is that there was an excessively strict interpretation of the State-Owned Companies Law to refuse the two nominees.
Source: CNN Brasil

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