Petróleo Brasileiro S.A. – Petrobras, following up the press release disclosed on February 19, 2021, in response to the Ministry of Mines and Energy’s Official Letter requesting measures to convene an Extraordinary General Meeting (EGM) in order to promote the replacement and election of a member of the Board of Directors, and appointing Joaquim Silva e Luna to replace Roberto da Cunha Castello Branco, informs that the company’s Board of Directors met on this date and, by majority vote:
- authorized the call of an EGM to be held before the Annual General Meeting (AGM) of 2021 to (i) the removal of Mr. Roberto da Cunha Castello Branco from his position as member of the Board of Directors of Petrobras, which, once effective, pursuant to the provisions of § 3 of art. 141 of the Corporation Law, will result in the removal of the other 7 (seven) members of the Petrobras Board of Directors elected by the multiple vote process at the AGM of July 22, 2020; (ii) the election of 8 (eight) members of the Petrobras Board of Directors; and (iii) the election of the Chairman Petrobras Board of Directors;
- delegated to the Chairman of the Board of Directors the definition of the date of the EGM in reference, considering the need to adopt preliminary measures to the mentioned call.
The nomination will be submitted to the company’s management and integrity review process and subject to review by the Personnel Committee.
The Board of Directors informed that “it will continue to rigorously watch over Petrobras’ governance standards, including with regard to the pricing policies for company products. The members of the Executive Board have a mandate in effect until March 20, 2021 and have the support of the Board.”
Facts deemed relevant will be disclosed to the market in due course.