José João Abdalla Filho and Marcelo Gasparino are already part of the collegiate; shareholders must elect 8 directors on April 27
A Petrobras informed on this Monday (27.mar.2023) that the minority shareholders indicated the names of José João Abdalla Filho and Marcelo Gasparino to join the Board of Directors. Here’s the full of the press release (706 KB).
The names were nominated by holders of common shares managed by Banco Clássico, ESH Capital and RPS Gestora de Recursos.
Abdalla and Gasparino are already part of the current composition of the board. Abdalla owns Banco Clássico, with stakes in companies such as Petrobras, cemig, Engie It is Eletrobras. Gasparino is a lawyer and sits on the boards of directors of Petrobras, Eletrobras and OK.
The general meeting that will elect 8 of the 11 council seats is scheduled for April 27. The Union has already indicated 11 names to compete for the vacancies.
Petrobras’ Board of Directors is elected through the multiple voting system, when shareholders multiply their shares by the total number of vacancies. The multiplied shares are distributed as votes among the nominated names.
Because of the multiple voting system, whenever a director is removed, the entire board must be re-elected. The loophole is the case of resignation, when the collegiate itself can elect a member until the assembly is held. This was the case of the president of Petrobras, Jean Paul Prates, elected after the resignation of his predecessor, Caio Mario Paes de Andrade.
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