The Board of Directors of Petrobras met this Wednesday (25th) to define the process for the inauguration of Caio Mario Paes de Andrade, nominated by the government to occupy the presidency of the state. He will go through several stages and, if approved, will succeed José Mauro Ferreira Coelho.
According to the Board’s decision communicated to the market, the appointment of Andrade will be submitted to the internal governance process, in compliance with the Senior Management Member Appointment Policy, for the analysis of legal and management and integrity requirements and, later, the manifestation of the People.
After this stage, because Ferreira Coelho was elected at the ordinary general meeting held on April 13, and his dismissal, if approved at an extraordinary general meeting (AGE), entails the dismissal of the other members of the board elected by the same process. , the convening of the new EGM presupposes the sending of the nominations of the other seven members to the Board of Directors.
It will also be necessary for the People Committee to express their views on how the nominees fit into the legal, regulatory and statutory requirements and prohibitions, so that it can be included in the management’s proposal to hold an EGM.
“After the aforementioned steps, the board will meet again to resolve on the convening of the EGM with the following matters: dismissal of Mr. José Mauro Ferreira Coelho from the position of member of the Board of Directors of Petrobras, which, if approved, will require the election of eight members of the Board of Directors of Petrobras and the election of the Chairman of the Board of Directors of Petrobras”, highlighted the state-owned company.
The company clarified that all its general meetings are subject to a minimum period of 30 days between the call and the holding, as it issues shares that support American Depositary Receipts (ADRs).
