Former secretary of Paulo Guedes was elected on Monday (27.jun) and his term will run until April 13, 2023
Petrobras announced that Caio Paes de Andrade took over the command of the state-owned company this Tuesday (June 28, 2022). Paes de Andrade took office at the company’s headquarters, in Rio de Janeiro, on an internal agenda.
The Petrobras Board of Directors elected the government nominee Jair Bolsonaro (PL) on Monday (June 27, 2022) by 7 votes in favor and 3 against. The former secretary of the Minister of Economy, Paulo Guedes, was elected director until the next general meeting of shareholders, when the entire Board of Directors will be submitted to a new election, and president of Petrobras with a term of office until April 13, 2023.
Appointed by the government on May 23, Paes de Andrade awaited the analysis of Petrobras’ governance so that the Board could deliberate on his nomination. On Friday (June 24), he received a recommendation from the Petrobras People Committee.
The resignation of his predecessor, José Mauro Coelho -after pressure from the Bolsonaro government-, shortened the procedures. In this case, the Board may elect a member to the collegiate temporarily, without the need for a shareholders’ meeting. This has already been done 3 times since 2016, as shown by the Power 360.
It was through this procedure that Paes de Andrade was elected on Monday (June 27). Now, you can wait unhurriedly for the assembly that must confirm the Council’s decision.
Paes de Andrade holds a degree in Social Communication, a postgraduate degree in Administration and Management from Harvard University and a master’s degree in Administration from Duke University. International diplomas have not been validated by the Ministry of Education. The secretary has no experience or training in the energy field.
Paes de Andrade is the 4th president of Petrobras in the Bolsonaro government. His predecessors were fired after successive increases in fuel prices. José Mauro Coelho, for example, was in office for 1 month and 9 days. The waiver came 3 days after the readjustment of 5.18% for gasoline and 14.26% for diesel.
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