The president of the Brazilian state oil company, Caio Paes de Andrade, I quit officially in office this Wednesday, which will be filled by the Senator jean paul pratesindicated by the new president of the country, Luiz Inácio Lula da Silva.
In a market-relevant event, the company’s board accepted the resignation on Wednesday unanimously and approved the “early closure” of the management of Andrade Country and appointed president ad interim Eng João Henrique Rittershaussen.
The interim chairman, who has 35 years with the company, will fill the position “until acquisition” of the new owner of the company.
Paes de Andrade, according to Wednesday’s statement, also resigned from his position within the Board of Directors.
The largest company in the country
On Tuesday evening, in one of the first acts with the new Government, the Ministry of Mines and Energy sent a letter to the oil company formalizing the appointment of Prates as new president of the the largest company in the country.
“The guidance, once it enters into force, will be subjected to the internal governance process applied to the policy for the appointment of senior management members for the analysis of legal requirements,” Petrobras said in a statement released on Tuesday.
current critic dividend distribution policy of the company, Prates will have as challenges regain strategic character by the state-owned company and reduce the dependence of domestic fuel prices in Brazil on those of the foreign market.
Who is Prate?
Prates, whose name had been proposed by Lula since last December 30, is a lawyer, economist and specialist in the sector and, according to the Head of State, it is also the best “to guide the company towards a great future”.
After the appointment, the person who will be the new president of Petrobras assured on social media that the state-owned company needs to “reconcile” its character as an e-commerce company.mixed economy and its structuring in the Brazilian economy.
State-controlled and with shares listed on the São Paulo, New York and Madrid stock exchanges, Petrobras is considered Brazil’s “spearhead”.
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Source: Clarin
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.