After Brazilian President Jair Bolsonaro’s choices for CEO and Chairman of Petrobras both declined their nominations last week, the pressure was on to find replacements before the company’s annual shareholders meeting on April 13. The government has this week selected new nominees for the roles, both individuals with oil and gas experience.
Jose Mauro Coelho has been nominated to serve as CEO. Coelho has more than 25 years of professional experience in the oil sector. Currently chairman of Pré-Sal Petróleo, an agency that manages production sharing contracts in Brazil’s pre-salt areas, Coelho was formerly Secretary of Oil, Natural Gas and Biofuels at the Ministry of Mines and Energy and Director of Oil, Gas and Biofuels Studies at Empresa de Pesquisa Energética (a public company linked to the Ministry of Mines and Energy).
Marcio Andrade Weber has been nominated to become chairman of Petrobras. He worked for the company for 16 years, and was involved in the development of the Campos Basin.
Coelho’s and Weber’s appointments are subject to approval by shareholders at next week’s meeting.