Deputy criticizes change in Petrobras statute to accommodate politicians – 10/23/2023 – Panel

State deputy Leo Siqueira (Novo), from São Paulo, says that Petrobras’ decision to change its statute to make the possibility of making political appointments to the council more flexible is “practically confessing to a crime”.

Last week, Siqueira filed a class action claiming that three advisors were political appointments from the federal government.

He mentions Pietro Mendes, Efrain Cruz and Sergio Machado Rezende, whose appointments would all have unfavorable opinions from the People Committee, the Board of Directors and the Securities and Exchange Commission (CVM).

Furthermore, the parliamentarian states that the appointments present conflicts of interest, with party affiliations and government positions without respecting the required quarantines.

“Seeing changes that weaken compliance policies only brings us a feeling of revolt. It is a political capture of Petrobras. And the result is there, the drop in the company’s value on the Stock Exchange”, he stated.

The proposed changes were implemented in the State-Owned Companies Law to avoid political interventions.

Eduardo Ribeiro, president of Novo, also criticized the changes to Petrobras’ statute.

“It’s not surprising coming from the PT, which has never had any appreciation for the governance of state-owned companies and public bodies. We will go all the way to stop the rigging.”

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