Reporting by Fabio Teixeira and Marta Nogueira, Reuters

RIO
EnbergiesNet.com 06 17 2024

The chief executive of Brazilian state-run oil company Petrobras (PETR4.SA) , Magda Chambriard, has announced her new management team, with the appointment of three directors with technical know-how and a long history in the country’s state-run firms.

Fernando Melgarejo, appointed as chief financial officer, will take over the role from Sergio Caetano Leite, who was ousted alongside former CEO Jean Paul Prates last month, said the firm in a filing on Friday.

Renata Baruzzi will become the chief officer for engineering, technology and innovation; and Sylvia dos Anjos will head up exploration and production.

The changes take place as Petrobras looks to speed up its investment plan, to meet requests from Brazil’s President Luiz Inacio Lula da Silva to have the firm invest more, boosting the economy and generating local jobs.

Melgarejo has spent around 37 years at the Banco do Brasil conglomerate – a state-run bank. He is currently a member of the board of directors and audit committee of energy firm Neoenergia (NEOE3.SA) , chairman of the board of Grupo Litel and a trustee of the Banco do Brasil Foundation.

Chambriard chose from Petrobras’ own internal pool of talent in the case of Baruzzi and dos Anjos.

Baruzzi, currently managing the Integrated Logistics Management area at Petrobras, first joined the state-run firm around 38 years ago, said the filing.

Dos Anjos, a retired Petrobras geologist, has more than 42 years’ experience in the E&P area, said the firm.

They will replace directors Carlos Jose do Nascimento Travassos and Joelson Falcao Mendes, who will remain in their positions until the new directors are approved by the company’s corporate governance.

Current executive officers Clarice Coppetti, Mauricio Tolmasquim, Claudio Schlosser, Mario Spinelli and William Franca da Silva will retain their positions under Chambriard for the time being, but Petrobras said “any other appointments will be communicated to the market in due course.”

Reporting by Fabio Teixeira and Marta Nogueira in Rio de Janeiro; Editing by Gabriel Araujo, Leslie Adler and Alistair Bell

reuters.com 06 14 2024