(Energy Analytics Institute, 11.Apr.2024) — Brazilian energy giant Petrobras said a precautionary decision was issued on 11 Apr. 2024 in the context of a popular action underway at the 21st Federal Court of São Paulo, which determined the suspension of Mr. Pietro Adamo Sampaio Mendes from his position as a member of board.
Petrobras said the decision is based on alleged non-compliance with the requirements of the company’s bylaws in the process of appointing the board member, it announced 11 Apr. in an official statement.
The Rio de Janeiro-based company now plans to 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.
