Petrobras Board of Directors Approves Election of Directors and Officers

Rio de Janeiro, January 31, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on  the Press Releases of 4th, 7th and 14th of January of 2019, reports that its Board of Directors approved the appointments of Admiral Eduardo Bacellar Leal Ferreira as Chairman of the Board of Directors of the company, and João Cox as member of the Board. The appointments will be reviewed at the next Shareholders’ General Meeting.

In addition, the Board approved the appointment of Carlos Alberto Pereira de Oliveira as Chief Exploration and Production Executive Officer, and Rudimar Andreis Lorenzatto as Chief Technology and Production Development Executive Officer.

Eduardo Bacellar Leal Ferreira is a Fleet Admiral and was Commander of the Brazilian Navy until January 2019, therefore reaching the top position of his career. In addition to the Naval School, Leal Ferreira received top-level training at the Naval War School in Brazil and at the Chile Naval War Academy. He was also instructor at the Annapolis Naval Academy in the USA. Prior to being a Commander of the Brazilian Navy, he held several important positions, being Chief of Staff of the Navy and Commander-in-Chief of the Fleet.

João Cox is an economist with a major in petrochemical economics from the University of Oxford, UK. He has a solid career as an executive, having been CEO of Telemig Celular and CEO of Claro, among other prominent positions. Cox has extensive experience as a member of the Board of Directors of several companies, such as Tim Brasil, where he is Chairman of the Board, Tim Participações, Embraer, Linx and Braskem.

Carlos Alberto Pereira de Oliveira holds a degree in Mechanical Engineering from the Military Institute of Engineering, and Business Administration from the Federal University of Rio de Janeiro. He holds a master’s degree in Finance and Investment Analysis from the Pontifical Catholic University of Rio Janeiro. He has been with Petrobras for 38 years and has held several executive positions in the Exploration and Production area linked to the senior management of the Petrobras System companies.

Rudimar Andreis Lorenzatto holds a degree in Civil Engineering from the University of Santa Maria in Rio Grande do Sul, and a MBA from Getúlio Vargas Foundation and other institutions abroad. He has been with Petrobras for more than 30 years, having held multiple management positions in well construction, production operations and subsea systems areas.

The other names already appointed, Nivio Ziviani to hold the position of member of the Board of Directors of the company and Anelise Quintão Lara for the Executive Board of Refining and Natural Gas, are following the internal corporate governance procedures with the conformity and integrity analyzes, necessary to the succession process of the company.


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