Brazil: two Petrobras board nominees are ineligible for positions, says CVM

Petrobras said on Thursday (13) that two executives appointed by the federal government to the state-owned Company’s Board of Directors were deemed ineligible by the Securities and Exchange Commission (CVM).

Here is the statement from Petrobras:

“Petrobras informs that it received a letter from the Superintendence of Relations with Companies (SEP) of the Securities and Exchange Commission (CVM), in which it communicates that, considering the information available up to the present moment and in line with the understanding of the Eligibility Committee and the Board of Directors of Petrobras, it concluded for the ineligibility of the candidates Pietro Adamo Sampaio Mendes and Sérgio Machado Rezende for the election of members of the Board of Directors to be held in the Ordinary General Assembly of 04/27/2023.”

The Eligibility Committee and the Board of Directors’ analyses on the candidates nominated by the controlling and minority shareholders can be found on the Company’s website.

Facts deemed relevant will be timely disclosed to the market.

With information from Gazeta Brasil

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