Petrobras has a new Board of Directors

New members were elected to Petrobras’ Board of Directors in the company’s Annual General Meeting held on April 29.
The Government surprised everyone by announcing the change of three candidates. Instead of re-electing Mr. Sergio Quintella and Mr. Francisco Albuquerque – long-standing members of the board – and electing the CFO Mr. Ivan Monteiro, the controlling shareholder proposed the election of Mr. Nelson Carvalho, Mr. Roberto Castelo Branco and Mr. Segen Farid Stefen.
The changes pleased the market considering not only the reputation of these new members, but also their technical background. They effectively open up the possibility of having a more active Board of Directors.
At the meeting, shareholders elected Mr. Walter Mendes and Mr. Guilherme Affonso Ferreira as independent members through separate votes of common and preferred minority shareholders, respectively. Both received a significant number of votes, showing the union of minority shareholders and focus on the progress of an independent work in the board.
The members to the Company’s Conselho Fiscal were also elected in the AGM.