For Guedes, the market is wrong with the fall in Petrobras shares

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One day after the resignation of José Mauro Ferreira Coelho from the presidency of Petrobras, the Minister of Economy, Paulo Guedes, who is participating in the World Economic Forum, in Davos, commented on the change in command of the state company.

Asked if the drop in share prices shows that the market is wrong, Guedes replied: “certainly”.

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Petrobras shares are down more than 4% this Tuesday (24) on the Brazilian stock exchange. At around 3:45 pm, the company’s preferred share (PETR4) dropped 4.05%, quoted at R$31.23. On the other hand, the common paper (PETR3) depreciated 4.06%, at R$ 33.97.

Guedes also denied being responsible for dealing with Petrobras’ pricing policy.

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“The president appoints the minister. The minister appoints the council. The board appoints the CEO and the board. And the CEO and the board are the ones who talk about pricing policy at Petrobras. It’s not me. It’s Minister Sachsida,” said the minister, who was attending a dinner promoted by the World Economic Forum.

command change

On Monday night (24), the federal government announced another change in the presidency of Petrobras. The Ministry of Mines and Energy (MME) reported that the name indicated to assume the position is Caio Mário Paes de Andrade, from the Special Secretary for Debureaucratization, Management and Digital Government of the Ministry of Economy, where he is responsible for the platform. .

José Mauro Ferreira Coelho had assumed the presidency of the state-owned company last month, replacing General Joaquim Silva e Luna.

The election and inauguration of Caio Paes de Andrade as president of Petrobras should not take place before the end of June. High-ranking company sources interviewed by the CNN estimate that the process can take about 45 days. The estimate considers the legal term of 30 days for holding the General Shareholders’ Meeting after the official call of the state company.

*Posted by Thamara Kaoru

Source: CNN Brasil

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