Friday, March 5, 2021

Under pressure, interim president should assume command of Petrobras – Prime Time Zone

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Assembly to appoint General Joaquim Silva e Luna may take place only on March 30, ten days after the end of Roberto Castello Branco’s term

Petrobras Agency / Geraldo FalcãoThe expectation is that Silva and Luna’s name will be indicated in this assembly for the State Council

A Petrobras may have an interim command during the transition process of current President Roberto Castello Branco and the nominee for the post, the reserve general Joaquim Silva e Luna. According to sources Young pan, the general has already opened talks with the state company to sign and present documents that will be analyzed and will go through the rite of governance and integrity. The company has committees that analyze the past, history and life of a professional appointed to a position at the top of the oil company. Only after the delivery and analysis of the documentation by the internal committees can an extraordinary shareholders’ meeting be called.

The expectation is that Silva and Luna’s name will be indicated in this assembly for the State Council. By law, the meeting must take place within 30 days after the call. If the general’s documentation is due later this week, the summons should take place early next week. With that, the assembly would take place on March 30. However, the current president’s mandate, Roberto Castello Branco, ends on the 20th, which opens the possibility for an interim command during the transition phase.

Petrobras’ board of directors will meet on Tuesday to approve the accounts and the results of the oil company in 2020 will be very positive numbers. In conversation with Young pan, sources affirm that they do not believe in a stampede of directors of the company for the departure of Castello Branco, what came to be considered. At the same time, the hypothesis of specific resignations and resignations has also not been ruled out.

* With information from reporter Rodrigo Viga

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Under pressure, interim president should assume command of Petrobras - Prime Time Zone