SAO PAULO (Reuters) – Eletrobras’ new Board of Directors on Friday elected former chief executive Wilson Ferreira Júnior to return to the post and former Petrobras CEO Ivan Monteiro as chairman of the board, the company said in a statement. communicated.
Shareholders on Friday also appointed a new board of directors for the newly privatized company.
Ferreira will assume the role on September 20, returning to the position he previously held from 2016 to 2021.
The current CEO, Rodrigo Limp, will remain with the company as Director of Regulation and Institutional Relations.
Ferreira had left Eletrobras in early 2021, after seeing the company’s privatization process lose momentum, saying at the time that it had been postponed by the pandemic and paralyzed in Congress.
The government, however, managed to privatize Latin America’s largest power generation and transmission company earlier this year in a 33.68 billion reais deal, which paved the way for Ferreira’s return to his former post.
The move represents a new beginning for Ferreira, who took charge of Eletrobras for the first time in 2016, appointed by former president Michel Temer to accompany the privatization process from its first steps.
He held the post under President Jair Bolsonaro but left the electric power giant last year to lead fuel distributor Vibra Energia as he felt the privatization operation would not be successful.
Rumors of his return to Eletrobras have been circulating since he resigned from his position at Vibra last month.
“Markets should see this as a positive,” Credit Suisse said last month. “(Ferreira) was CEO from 2016-2021 and started the transformation of the company, so the implementation of a new efficiency plan could be faster.”
(Reporting by Gabriel Araujo)
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