October 4, 2022

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José Mauro Coelho has been elected to the Petrobras Board of Directors and is closer to taking over the company's presidency  Economie

José Mauro Coelho has been elected to the Petrobras Board of Directors and is closer to taking over the company’s presidency Economie

general meeting of shareholders Petrobras This Wednesday (13) he approved the name of Jose Mauro Ferreira Coelho to the board of directors of the state-owned company, opening the way for him to take over the presidency of the company. The president is elected in a new session on Thursday (14).

Ferreira Coelho served as Chairman of the Board of Directors of Pré-Sal Petróleo (PPSA) and served as Secretary of Petroleum, Natural Gas and Biofuels at the Ministry of Mines and Energy until October last year. Prior to that, he worked for 12 years at Empresa de Pesquisa Energética (EPE), a government-owned company responsible for planning the electricity sector.

The CEO holds a degree in Industrial Chemistry, and a Master’s degree in Materials Engineering from the Instituto Militar de Engenharia (EMI) and a PhD in Energy Planning from the Energy Planning Program (PPE) of the Federal University of Rio de Janeiro (UFRJ).

Shareholders approve José Mauro Coelho on Petrobras’ board

On Tuesday (12), a The Petrobras People’s Committee recommended approval of the name José Mauro Ferreira Coelho To the Board of Directors, in support of his election as a new Chairman of the Company. The company’s bylaws state that the president must first be a member of the board of directors. Once on the board, he can be elected to lead the company – in place of General Joaquim Silva y Luna, who was Launched by President Jair Bolsonaro in March.

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The Board also approved Marcio Andrade Weber as Chairman of the new Board of Directors. Webber is a civil engineer who graduated from the Federal University of Rio Grande do Sul with a major in petroleum engineering.

This is the second time Bolsonaro has changed the company’s presidency due to dissatisfaction with the fuel price policy. Silva e Luna replaces economist Roberto Castelo Brancowhich has also come under pressure from the federal government At the expense of diesel and gasoline modifications.

Since 2016, it is still under the management of Pedro Parente, and Petrobras The import parity price was adopted to determine the price of gasoline and diesel at refineries. The producer price index controls the fluctuations in the price of a barrel of oil in the international market and the exchange rate.

High oil prices in the international market and the real, which is still at relevant levels of devaluation against the dollar, are important factors for Brazilian inflation. With an eye on the re-election of the president Jair Bolsonaro (PL) Swipe to run and win Petrobras.

Understand the rise in fuel prices

Understand the rise in fuel prices

New Board Members

shareholder meeting Petrobras Four independent directors were elected to form the board of directors of the state-owned company. As a result, the number of government appointees who participate in the college has been reduced from seven to six.

The federal government, as the controlling shareholder, has indicated eight names for the university, however, only six have been approved. Although most of the 11 . seats are reservedThe government faced resistance. There is also an advisor appointed by the staff.

Bolsonaro fires General Silva and Luna as Petrobras, appoints economist Adriano Perez

Bolsonaro fires General Silva and Luna as Petrobras, appoints economist Adriano Perez

The government announced at the end of March that it would replace retired General Joaquim Silva y Luna to the president’s dismay. Jair Bolsonaro With the pricing policy of Petrobras.

Initially, the government nominated economist Adriano Perez to head Petrobras and businessman Rodolfo Landim to lead the council.

However, both of them withdrew from the invitation after it was found that their names could be rejected by the Persons Committee, as they have links to companies directly related to Petrobraswhat or what It could constitute a potential conflict of interest.

All nominees for the top rank in the company are subject to an internal evaluation. The goal is to see if they meet the technical and safety requirements for the role. This practice was adopted after corruption scandals in the company.

Therefore, the government appointed Marcio Andrade Webber to head the council and Jose Mauro Coelho to lead the state-owned company.

Understanding Conflicts of Interest in Petrobras . Succession

Understanding Conflicts of Interest in Petrobras . Succession

The board of directors is responsible, among other functions:

  • Define the mission, strategic objectives and guiding principles of Petrobras;
  • Adoption of the strategic plan and multi-year plans.
  • setting the company’s global policies, including business and financial strategy, risk, investment, environmental, information disclosure, dividend distribution, related party transactions, spokespersons, human resources and minority interests;
  • Oversight of the management of the Executive Board;
  • annual evaluation of the results of individual and collective performance of officials of state-owned enterprises; And
  • Approval of the transfer of ownership of the company’s assets.

The president of the company is responsible for managing the company in accordance with the policies approved by the board of directors.