(Energy Analytics Institute, 8.Apr.2024) — Petrobras said that on 5 Apr. 2024 a precautionary decision was published within the scope of a popular action in progress at the 21st Federal Court of São Paulo, which determined the suspension of Mr. Sérgio Machado Rezende from the exercise of the position of board member with the Rio de Janeiro-based company.
The decision is based on alleged non-compliance with the requirements of Petrbras’ bylaws in the process of appointing the board member, the company said 8 Apr. in an official statement.
“Petrobras will seek to overturn this decision by means of the appropriate appeal, in order to defend the soundness of its internal governance procedures, as it has done in other actions underway in the same court questioning appointments to the board,” the company said in the statement.
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By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
