Government formalizes the name of Finance Secretary for a vacancy at Petrobras

Through a statement, Petrobras confirmed the receipt of nominations from the federal government (controlling shareholder) and minority shareholders for the elections to the company’s Board of Directors and Fiscal Council.

Among the names nominated by the government to fill a vacancy on the Board of Directors is the current deputy executive secretary of the Ministry of Finance, Rafael Dubeux.

The elections will be held during the Company’s Ordinary General Meeting (AGO) on April 25, 2024.

According to the Minister of Finance, Fernando Haddad, Dubeux’s appointment aims to coordinate government actions around the Ecological Transition Plan. In addition to Haddad’s secretary, the government nominated seven other names.

Currently, the government already has a majority on the state-owned company’s Board of Directors with six representatives among the 11 members. The other five members are linked to private sector investors.

It is worth noting that the previous government did not have a representative from the former Ministry of Economy on the Council.

Petrobras has been the target of criticism from sectors of the market due to political interference in the company’s strategic decisions.

In recent weeks, the oil company has been the target of criticism due to the government’s decision to bar the distribution of extraordinary dividends to shareholders.

Other government nominations for the council are the names of the Production engineer from the Federal University of Rio de Janeiro (UFRJ), Ivanyra Maura de Medeiros Correia; and the lawyer graduated from the Faculty of Law of the Federal University of Minas Gerais (UFMG), Benjamin Alves Rabello Filho.

Pietro Adamo Sampaio Mendes, as president of the Board, and Jean Paul Prates, who is president of Petrobras and is part of the board, were also nominated for reappointment.

The government also appointed Bruno Moretti, Renato Campos Galuppo and Vitor Eduardo de Almeida Saback to remain in their positions.