Lula’s ministers will accumulate functions with the Metallurgical Council

Even without having experience leading the sector, the ministers of the Lula government, Anielle Franco, from Racial Equality, and Carlos Lupi, from Previdência, became part of the board of directors of Tupy, a Brazilian metallurgy multinational, valued at just under R$ 4 billion on the Stock Exchange. The communication was made by the company through a Material Fact to the Securities and Exchange Commission, CVM.

The appointment of the two ministers was made by BNDESPar, a holding company of the National Bank for Economic and Social Development (BNDES), which has a 28.2% stake in the company. Another portion of 24.8% of the company’s shares is also linked to the government through Previ, a pension fund for Banco do Brasil employees. The manager Trígono, specialized in small capsthe smaller companies listed on B3, is the third relevant shareholder, with 10% of the company’s capital.

The amounts to be received by Anielle and Lupi were not disclosed, but the annual salaries paid to board members in 2021 reached BRL 1 million. The two will replace Carla Gaspar Primavera and Fabio Rego Ribeiro, respectively, who resigned from their positions. Three Tupy directors abstained from voting to approve the ministers’ names.

Anielle, sister of councilwoman Marielle Franco, who died in 2018, is a journalist who graduated from the Central University of North Carolina and holds a BA in English from the State University of Rio de Janeiro and a PhD in applied linguistics from the Federal University of Rio de Janeiro (UFRJ). ).

Carlos Lupi headed the Ministry of Labor and Employment during the Dilma government. He left office after allegations of involvement in a scheme to embezzle money through contracts with NGOs.

Lula has already nominated more than 50 allies to State Councils

The appointment of ministers and PT members to Boards of Directors is a recurring practice in the Luiz Inácio Lula da Silva (PT) government, which replaced at least 52 members of these boards in 14 of the main public companies in the first half of this year alone.

The average salary is R$ 30,000 a month, with the forecast of attending one meeting per month or, in some cases, per two months. One of the most coveted councils is that of Itaipu, a binational hydroelectric plant. Government representatives earn R$34,000 to participate in a single meeting every two months. There are also extra payments. Lula appointed the PT’s finance secretary, Gleide Andrade, and five of the 37 ministers to the company: Fernando Haddad (PT), Rui Costa (PT), Alexandre Silveira (PSD), Esther Dweck and Mauro Vieira. Together with the salary, currently R$ 41,600, the remuneration of appointed ministers reaches R$ 75,600 per month.