Fernando Borges named Petrobras acting president
The chairman of Petrobras’s board of directors appointed Executive Director of Exploration and Production Fernando Borges as the firm’s acting president until the election and inauguration of the new president, in compliance with the firm’s statute, the state-run oil giant reported today (Jun 20).
Earlier on, José Mauro Coelho had left his post as Petrobras’s president and resigned from the oil giant’s board of directors.
On May 23, Brazil’s Ministry of Mines and Energy stated that the government had decided, in its capacity as the corporation’s controlling shareholder, to replace the company’s president. At the time, the government announced that José Mauro Coelho, who took office on April 14, would be replaced with Caio Mário Paes de Andrade.
Every nominee must be approved by Petrobras’s personnel committee following a resume assessment. Next, they must be elected at the company’s yearly general assembly. Then, their name is submitted to the company’s Board of Directors, where it must receive final approval.
