Petrobras Chair Returns to Board Divided by Rivalries [Financial Post (Toronto, Ontario, Canada)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — A Brazilian judge has reinstated Petroleo Brasileiro SA's chairman as acrimony intensifies between government-appointed board members and those representing minority shareholders of Latin America's largest oil producer. The rivalry among directors has escalated amid a power struggle between Chief Executive Officer Jean Paul Prates and members of President Luiz Inacio Lula da Silva's cabinet. While the political attacks on the CEO have for now subsided, the unrest on the board continues, with members calling for investigations into one another for allegedly intimidating social media posts and conflicts of interest. Article content Article content Read More: Petrobras CEO to Remain in Charge for Now as Dispute Cools “It's counterproductive,” said Jeronimo Antunes, a former Petrobras director who is running for a seat on a board election schedule
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