Page 11 - LatAmOil Week 04 2023

LatAmOil BRAZIL LatAmOil

Prates, shown on January 10, has not yet formally assumed his post at Petrobras (Photo: Radio Senado)

Incoming Petrobras CEO said to be

filling senior management positions

JEAN Paul Prates, the senator who has been some job candidates to discuss the open posts.
nominated by Brazil President Luiz Inacio Lula PSB is not likely to have much influence over the
da Silva to head the national oil company (NOC) choice of future Petrobras appointees, the source
Petrobras, has reportedly begun the process of commented, though the Communist Party of
filling the firm’s senior management posts. Brazil (PCdoB) and the Centrao, a collection of
Prates has reportedly been meeting with big-tent centrist parties, are also looking to play
members of Lula’s leftist Workers Party (PT) to a role in the hiring process.
review candidates for senior roles at Petrobras. Prates’ appointment as Petrobras CEO is yet
This decision-making process has raised con- to be confirmed. His appointment must first
cerns among some investors that the new pres- be approved by the NOC’s current board of
idential administration may allow politics to directors.
influence management and strategy decisions Reuters reported that the senator is looking
at the publicly listed company. to finish filling management position at Petro-
In the wake of Operation Lava Jato (“Car bras by February 15. The candidates for sen-
Wash”), a wide-ranging corruption scandal that ior-level positions within the company include
began coming to light in 2014, Brazilian author- Prates’ business partner Sergio Caetano Leite,
ities have sought to grant Petrobras a higher who is expected to vie for the position of CFO,
degree of independence from the government. it said.
Instead, they have allowed the NOC to prioritise Other candidates for this post may also
profit margins. include Aurelio Amaral, a former director at
The incumbent president’s predecessor, Jair Brazil’s National Agency of Petroleum, Natural
Bolsonaro, made a deliberate point of doing Gas and Biofuels (ANP), as well as the econo-
so and even spoke at times of privatising the mist William Nozaki.
company. The shortlist for other managerial positions
Petrobras’ bottom line has benefited from includes Magda Chambriard, a former ANP
these shifts, so investors are now keeping a close head; Alcides Santoro, Petrobras’ former head of
eye on proceedings related to Prates’ hiring deci- gas and energy; and Claudio Schlosser, a former
sions. These are likely to be driven by the prefer- Petrobras America executive.
ences of Lula’s PT faction, one source informed Wagner Victer, the former energy secretary
Reuters last week. of Rio de Janeiro State, may also be able to claim
According to the source, Vice President Ger- enough political support to secure a seat of
aldo Alckmin, a member of the centre-left Bra- Petrobras’ board of directors, said one of Reu-
zilian Socialist Party (PSB), met recently with ters’ sources. ™

Week 04 25•January•2023 www. NEWSBASE .com P11