Abespetro prepares new elections

Aug 20, 2019

Abespetro is preparing the election of its new board. There will be six members, one CEO and five directors, with a two-year term starting January 1, 2020. Unlike in previous elections, this time most current directors should not attempt reelection.

Sources in the association anticipate that of the six executives, five have no intention of running for reelections, except for Eduardo Chamusca. SBM’s president was elected director in April to serve a buffer term, replacing Telmo Ghiorzi. Asked by Petróleo Today, the executive said he has not yet defined whether he will try reelection, but that the likelihood of this is greater.

The process will be carried out in three stages via extraordinary general meetings. In the first, scheduled for September 2, the current board will will make the announcement, informing that interested parties will have 30 days to submit their applications. On October 7, a second meeting will be held to introduce new candidates, who need to be linked to member companies. The election will take place on November 4th.

Abespetro’s proposal is to promote a profound renewal of the board, seeking to maintain representativeness of the areas of operation of the associated companies. Another premise is to try to ensure the return of at least one woman to the board. In the past, Andrea Falcão, Schlumberger’s executive, was on the board.

At the September assembly, members will decide whether the dispute will be by individual nominations or by slates. To date, the elections have been conducted under the model of individual candidacies, but, as expected by a large number of interested parties, Abespetro executives are betting on the option of closed slates, already with predetermined positions.

In the individual nomination process, members elect six executives, and the elected from among themselves choose who will assume the position of CEO. In the view of some associates, the slate model may ensure greater representativeness.

Abespetro’s current board of directors includes Claudio Makarovsky as CEO, and Alejandro Duran (GE Oil & Gas), Eduardo Chamusca (SBM), Gilberto Gonzaga Cardarelli (Brasco), Jose Mauro Ferreira (TechnipFMC) and Rodrigo Ribeiro (Constellation ) as directors, in addition to Gilson Freitas Coelho, in the position of executive secretary.

Makarovsky was elected at the end of 2017 and, like his predecessor, Jose Firmo, chose not to attempt reelection. The executive’s plan is to devote himself more to the academic world.

Seen as one of the strongest entities in the oil sector, Abespetro was founded in 2004 and gained greater projection between 2016 and 2017, when it actively participated, with the IBP, in discussions to resume the attractiveness of the oil sector in Brazil. It currently has 45 member companies.

The relevance of Abespetro has gained interest around the elections. While in the 2017 process eight candidates competed for six vacancies, in the April election to choose a new director with an eight-month term, there were six executives running for a single seat on the board.

Abespetro’s associates include companies from the platforms, rigs, FPSOs, services, equipment manufacturing, vessels and diving segments, such as CGG, Ensco, Modec and Halliburton. Entity-related companies account for about 80% of E&P activity in the country.

Source: Brasil Energia Magazine

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