Management
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Board of Directors
It is composed of at least seven and at most eleven members, elected at a General Shareholders’ Meeting for a term of up to two years, with three consecutive reelections permitted. In 2024, the average attendance at Board of Directors meetings was 92% and the average justified absence was 8%.
Guilherme Santos Mello
Chairman | Appointed by the Controlling Shareholder | Non-Indepedent Member
Mr. Guilherme Santos Mello earned a bachelor’s degree in Economics from the Pontifical Catholic University of São Paulo (PUC/SP) in 2007 and a bachelor’s degree in Social Sciences from the University of São Paulo (USP) in 2008. He completed his master’s degree in Economics at the Pontifical Catholic University of São Paulo in 2009 and his doctorate in Economics at the State University of Campinas (Unicamp) in 2013. Between 2008 and 2010, he taught at PUC/SP as a visiting professor. From 2010 to 2016, he served as a Visiting Professor at Faculdades de Campinas (FACAMAP) in the roles of Visiting Professor and Research Laboratory Professor. Between 2016 and 2022, he served as a professor at the Institute of Economics at Unicamp (IE/UNICAMP), where he coordinated the graduate program in Economic Development and various research lines, as well as overseeing the management and administration of IE/UNICAMP. In 2023, he was invited to take the helm of the Secretariat of Economic Policy at the Ministry of Finance, which is responsible for formulating agricultural, fiscal, and macroeconomic policies, as well as proposals for sustainable economic development. He served as a member of the Board of Directors of BB Seguridade Participações S.A. from May 2023 to June 2025, and as a member of the Board of Directors of the Brazilian Oil and Natural Gas Administration Company (Pré-Sal Petróleo S.A.) from July 2023 to April 2026. He currently chairs the Board of Directors of Petrobras and the Board of Directors of the Brazilian Development Bank (BNDES) and, pursuant to statutory provisions, also of BNDES Participações and FINAME, since June 2025.
Magda Chambriard
Appointed by the Controlling Shareholder | Non-Independent member| CEO
Mrs. Magda Maria de Regina Chambriard has been a member of the Board of Directors and President (CEO) of Petróleo Brasileiro S.A. – Petrobras since May 24, 2024. Magda Chambriard holds a Master’s degree in Chemical Engineering from COPPE/UFRJ (1989) and a degree in Civil Engineering from UFRJ (1979), with a specialization in Reservoir Engineering and Formation Evaluation and a specialization in Oil and Gas Production from what is now called Petrobras University. She has completed several courses, in addition to those related to oil and gas production, including Management Development in Production Engineering, Negotiation of Exploration and Production Contracts, Qualification in Negotiation in the Oil Industry, Risk Management, Accounting, Management, Leadership, and Board of Directors Development. She began her career at Petrobras in 1980, working exclusively in the Production area, where she accumulated knowledge across all production activities in Brazil. In 2002, she was seconded to Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) to serve as an advisor to the Exploration and Production Directorate, at a time when she worked as an E&P business consultant in Petrobras’ E&P New Business area. At ANP, soon after taking on the advisory role, she also assumed leadership of the Exploration Superintendency and the Block Definition Superintendency in preparation for licensing rounds. She was responsible for implementing ANP’s Multi-Year Geology and Geophysics Plan, which resulted in the collection of essential data for the success of bidding rounds in new-frontier sedimentary basins.She became an ANP Director in 2008 and Director-General in 2012, having led the creation of the Safety and Environment Superintendency and the Information Technology Superintendency, the work related to the studies and drafting of contracts and bid documents, the technical studies that culminated in the first pre-salt bidding round, as well as traditional concession-regime bidding rounds. She was responsible for the areas of Audit, Internal Affairs, Legal Counsel, Bid Promotion, Supply, Oversight of Fuel Distribution and Retailing, Human Resources, Administrative and Financial, Government Relations, in addition to those related to the Exploration and Production segment.In June 2024, she became Chair of the Board of Directors of the Brazilian Institute of Oil and Gas (IBP) and, in November 2024, she became a Board Member and Chair of the Board of Directors of Petrobras Transporte S.A. – Transpetro.
Francisco Petros
Appointed by minority shareholders holding common shares through the separate election process | Independent Member
Mr. Francisco Petros is an attorney graduated from Mackenzie University, specialized in corporate law, corporate governance, compliance, and forensic investigations. He also holds a degree in Economics from the Pontifical Catholic University of São Paulo (PUC-SP) and a postgraduate MBA in Finance from the Brazilian Institute of Capital Markets (IBMEC). He has attended numerous courses in Brazil and abroad in corporate governance, compliance, internal (forensic) investigations, criminal and civil settlement agreements in multiple jurisdictions, and market regulation. He is certified as a Board Member and Audit Committee Member by the Brazilian Institute of Corporate Governance (IBGC). He worked for 25 years (1983–2008) in the capital markets, holding executive director positions at large companies and building solid expertise in corporate finance, valuation, corporate finance, and investments. He served as President of the São Paulo Association of Capital Market Analysts and Investment Professionals (ABAMEC-SP) from 1999 to 2001 and as the first Chair of the Capital Market Analysts Oversight Board established by the Brazilian Securities and Exchange Commission (CVM) from 2010 to 2015. He has served as a board member of major Brazilian companies, participating in corporate governance restructuring and strategic decision-making, including BRF (2017–2020), Petrobras (2015–2019), and BR Distribuidora (2015–2016). In these boards, he served on statutory committees for audit, finance, people, and strategy.He is currently a member of the Audit Committee of the MAPFRE Group (Brazil), a board member of the São Paulo Institute of Attorneys (IASP), and a member of the Board of Directors of Caixa Econômica Federal (CEF) and its Risk and People Committees. At Petrobras, he serves as a member of the Board of Directors and a member of the Minority Shareholders’ Committee. He is also a mentor in the “Women on Boards Diversity Program – Elas” (PDeC Elas) of the Brazilian Institute of Corporate Governance (IBGC).
Fábio Henrique Bittes Terra
Appointed By The Controlling Shareholder | Non-Independent Member
Mr. Fábio Terra holds a degree in Economics from the Federal University of Uberlândia (UFU). He earned a Master’s degree in Economic Development from the Federal University of Paraná (UFPR) and a PhD in Economics, with an emphasis on Development Economics, from the Federal University of Rio Grande do Sul (UFRGS). He also completed a postdoctoral fellowship at the University of Cambridge, United Kingdom.He is an Associate Professor at the Federal University of ABC (UFABC) and previously taught at UFU. He is currently on assignment to the Ministry of Finance, where he serves as Special Advisor to the Executive Secretariat.He has served as a Fiscal Council Member at Banco da Amazônia S.A. (BASA), Chairman of the Fiscal Council at the Federal Data Processing Service (Serpro), Board Member at Banco do Brasil – Investment Bank (BBBI), and Chairman of the Board of Directors at the Federal Government Asset Management Company (EMGEA).In academia, he served as Pro-Rector for Planning and Institutional Development at UFABC. He is a researcher with the National Council for Scientific and Technological Development (CNPq) and an ad hoc consultant for CAPES, CNPq, and the São Paulo Research Foundation (FAPESP). He received the National Treasury Award in 2009 and 2012, the Brazil Economics Award in 2014, and the SOF Public Finance Award in 2018.
José João Abdalla Filho
Appointed by the minority shareholders that hold ordinary shares through cumulative voting process | Independent member
Mr. João Abdalla, also known as Juca Abdalla, through his investment vehicles, is one of B3’s largest individual long-term investors, focusing mainly on the Oil & Gas, Energy and Mining sectors, with holdings of more than 10 years. He has experience on the boards of Naturgy Brasil and CEMIG. His work has always been guided by respect for the interests of all stakeholders, especially in state-controlled companies, with a focus on controlling operating costs, disciplining capital allocation policies and ensuring returns equivalent to the risks assumed by all stakeholders. His main positions include: (a) CEO and controlling shareholder of Banco Clássico S.A. (controlling shareholder of several investment vehicles) since 1989; (b) was a full member of the Board of Directors of Companhia Energética de Minas Gerais since 2019, including acting as an alternate (2015-2019); (c) a full member of the Board of Directors of Petrobras since 2022, also acting as a Member of the Petrobras Investment Committee and Member of the Minority Committee; (d) full member of the Board of Directors of Eletrobras since May/2025; (e) full member of the Board of Directors of Transmissora Aliança de Energia Elétrica (2019- 2022); and (f) alternate member of the Board of Directors of Naturgy Brasil (2015-2022).
José Fernando Coura
Appointed by the Controlling Shareholder | Independent member
Mr. José Fernando Coura is a native of Dom Silvério, Minas Gerais. He holds a degree in Mining Engineering from the renowned School of Mines of the Federal University of Ouro Preto (centenary class of 1976) and a degree in Metallurgical Technician from the Federal Technical School of Ouro Preto. He has solid additional training in Strategic Planning, Industrial Management, Technology, and Mineral Economics. In 2014, he completed the “Strategic Management for Business Executives” program at INSEAD in Fontainebleau, France. He currently serves as a Board Member of Petrobras and a member of the Mining Thematic Council of the Brazilian Institute of Industrial Research (CNI) (COMIN). He has held the positions of Vice President of the Federation of Industries of the State of Minas Gerais (FIEMG) and President of the Mineral Industry Union of the State of Minas Gerais (SINDIEXTRA), but is currently on leave from these positions. In the public sector, he served as Deputy Secretary of Mines and Energy for the State of Minas Gerais from 1999 to 2001. Nationally, he chaired SINFERBASE (National Union of the Iron and Base Metals Extraction Industry) and the Brazilian Mining Institute (IBRAM), solidifying his role as a strategic leader in Brazilian mining. He also served as Chief Executive Officer of AVG Siderurgia Ltda. and serves on the boards of trustees of institutions such as the Gorceix Foundation and the Biodiversitas Foundation. In addition to serving on the Board of Directors, he is a member of Petrobras’ Investment and Safety, Environment, and Health Committees.
Marcelo Gasparino da Silva
Appointed by minority shareholders holding common shares through the cumulative voting process I Independent member
Mr. Marcelo Gasparino da Silva is an attorney, graduated from the Federal University of Santa Catarina (UFSC), and a specialist in Corporate Tax Administration from the Center for Administrative and Socioeconomic Sciences (ESAG). He has executive education in mergers and acquisitions from London Business School and from the CEO FGV program (IBE/FGV/IDE), as well as training in Governance, Stewardship, and Sustainability from the ICGN – International Corporate Governance Network. He is a professor at Fundação ENA – School of Government, focusing on the certification of officers and directors of state-owned enterprises and mixed-capital companies.After 12 years as a corporate lawyer, he began his executive career as Legal and Institutional Director at Celesc (2007–2009). Over the past 15 years, he has established himself as an independent board member of publicly traded companies, with more than 36 board mandates. He currently serves as a member of the Board of Directors of Petrobras, Chair of the Board of Directors of Oncoclínicas, and Vice Chair of the Board of Directors of Vale.At Vale, he has served as Coordinator of the People and Compensation Committee (CPR) since 2024 and has been a member of the Nomination and Governance Committee (CIG) since 2023. He also served as Coordinator of the Sustainability Committee (2020–2023), was a member of the Nomination Committee (2022–2023), and of the Operational Excellence and Risk Committee (2020–2022). At Banco do Brasil, he serves on the Audit Committee (COAUD) and the People, Eligibility, Succession and Compensation Committee (COREM).At Petrobras, he served as a member of the Fiscal Council (2019–2021), a member of the Board of Directors (2021–2025), Chair of the Safety, Environment and Health Committee (2022–2024) and of the Minority Shareholders’ Committee (2022–2024), and also served on the Investment Committee (2021–2024), the People Committee (2023–2024), and the Petrobras Conglomerate Audit Committee (2022–2024).At Eletrobras (now Axia Energia), he served as a member of the Board of Directors in the periods 2012–2014, 2016, and from August 2022 to April 2025, acting as Coordinator of the Sustainability Committee (2024–2025) and as a member of the Strategy, Governance and Sustainability Committee (CEGS) (2022–2024). He chaired the Board of Directors of Eternit (2017–2023) and Usiminas (2015–2016).He also served on the Boards of Directors of Cemig (2016–2022), Kepler Weber (2017–2020), Casan (2019–2020), Celesc (2011–2014 and 2018–2019), AES Eletropaulo (2016–2018), Battistella (2016–2017), Bradespar (2015–2016), Tecnisa (2012–2014), and Usiminas (2012–2016). He served on the fiscal councils of AES Eletropaulo (2012–2014), AES Tietê (2013–2014), Bradespar (2014–2016), Braskem (2018–2019), and Petrobras (2019–2021).He has been certified by the Brazilian Institute of Corporate Governance (IBGC) as a Board Member Certified by Experience (CCAplus) since 2010. His career combines strong academic background, leadership experience, and active participation in strategic committees of major Brazilian companies.
Marcelo Weick Pogliese
Appointed by the Controlling Shareholder | Non-Indepedent Member
Mr. Marcelo Weick Pogliese is an attorney, holds a postdoctoral degree in Public Law from the University of Santiago de Compostela, a PhD in Law from the State University of Rio de Janeiro (UERJ), and a Master’s degree in Law from the Federal University of Rio Grande do Norte (UFRN). He currently serves as Special Secretary for Legal Affairs in the Office of the Chief of Staff to the President of the Republic, is a tenured professor at the Federal University of Paraíba, and a Member of the Board of Directors at Petrobras. He has previously served as Deputy Secretary for Legislative Affairs in the Office of Legal Affairs of the Chief of Staff’s Office to the President of the Republic, Special Advisor of Petrobras’ CEO, Acting Deputy Special Secretary in the Office of the Special Secretary for Legal Affairs, and Advisor in the same office. He has also held the positions of General Attorney of the Municipality of João Pessoa, General Attorney of the State of Paraíba, and Chief Secretary of the Chief of Staff’s Office of the Government of Paraíba.
Rachel De Oliveira Maia
Appointed by shareholders holding preferred shares through the separate election process | Independent Member
Mrs. Rachel de Oliveira Maia is the founder and CEO of RM Cia 360, a consulting firm specialized in ESG and corporate governance best practices. Recognized as one of Brazil’s leading business executives, she has built a solid career at major multinationals and now also serves on boards of directors and social impact initiatives. She began her career at Seven Eleven as a Senior Financial Controller, where she developed her analytical and leadership skills. She later worked as a Controller at Novartis Pharmacy. At Tiffany & Co., she led the brand’s entry into the Brazilian market and, as CFO in Brazil, was responsible for financial management and structuring the company’s growth in the country. After establishing Tiffany & Co. as a benchmark in the Brazilian market, she was invited to lead the expansion of the Danish brand Pandora. As CEO of Pandora Brazil, she drove significant growth, expanding the company’s presence from two to more than 100 points of sale over seven and a half years. As a Black woman CEO, Rachel represented—until October 2020—only 0.04% of CEO positions in multinationals in Brazil, becoming a reference and inspiration for women and Black people throughout Latin America. She holds a degree in Accounting from Centro Universitário FMU and an MBA from Fundação Getulio Vargas (FGV). She also completed executive programs in Negotiation and Leadership at Harvard Business School and in General Management at the University of Victoria in British Columbia, Canada. Throughout her career, she has served in various institutions and councils, including the General Council of the Danish Consulate, the Danish Chamber of Commerce, and the President’s Committee of the American Chamber of Commerce (Amcham), as well as the Retail Development Institute.She has also played a significant role in third-sector organizations and social initiatives, having served as a board member of Grupo Mulheres do Brasil, as an ambassador for Projeto Guri, and as an advisor to Capitalismo Consciente. She currently serves on the board of Fundação Maria Cecília Souto Vidigal, an organization dedicated to early childhood development. In 2018, she founded Instituto Capacita-me, a nonprofit organization focused on training and employability for young people and professionals in situations of socioeconomic vulnerability. In April 2023, she became Chair of the Board of Directors of the United Nations Global Compact in Brazil and serves as an ambassador for Sustainable Development Goal (SDG) 5, focused on gender equality. Rachel also serves on important corporate boards. She is an independent board member of Vale and Hypera S.A. At Banco do Brasil, she is a member of the Sustainability Committee and the Audit Committee. At Vale, she is Coordinator of the Sustainability Committee and a member of the Audit Committee. Over her career, she has also worked as a Diversity and Inclusion consultant at Carrefour and served as an independent board member of Grupo Soma, Banco do Brasil, CVC Corp, and Grupo Pão de Açúcar (GPA).
Renato Campos Galuppo
Appointed by the Controlling Shareholder | Independent member
Mr. Renato Campos Galuppo has been a lawyer since February 2003, with extensive experience in litigation and consultancy in electoral, criminal, constitutional and civil matters. He holds a bachelor’s degree in Law from the Federal University of Ouro Preto (2002), a specialist degree in Applied Criminal Law and Criminal Procedure from Centro Universitário UNA (2020) and a postgraduate degree in Economic Criminal Law from the Institute of European Criminal and Economic Law of the Faculty of Law of the University of Coimbra/IBCCRIM (2021). He was a legal advisor in the Chamber of Deputies from March 2007 to June 2014 and from October 2014 to December 2021. He was a Board Member of Pré-Sal Petróleo S.A (PPSA) from July 2023 to January 2024. He is currently a member of ABRADEP (Brazilian Academy of Electoral and Political Law), PLURIS (Institute of Party and Political Law), IBCCRIM (Brazilian Institute of Criminal Sciences) and ICP (Institute of Criminal Sciences) and a Member of the Board of Directors and Chairman of the People Committee at Petrobras.
Rosangela Buzanelli Torres
Elected by Petrobras Employees | Non-Indepedent Member
Mrs. Rosangela Buzanelli Torres holds a degree in Geological Engineering from the Federal University of Ouro Preto (UFOP) and a master’s degree in Remote Sensing, with an emphasis in Geosciences, from the National Institute for Space Research (INPE). Her professional and personal trajectory has been marked by prominent involvement in social, environmental, and student movements. She was a pioneer on the executive board of the UFOP School of Mines Student Union and actively participated in emblematic causes such as the struggle for political amnesty, the defense of the Amazon, and the mobilizations for direct elections in Brazil.She joined Petrobras in 1987 as a geophysicist and built a solid 39-year career, combining technical excellence with a consistent commitment to dialogue, valuing employees, and upholding essential principles such as social justice, participation, and collective rights in the workplace. Elected in the first round as the employees’ representative on Petrobras’ Board of Directors in 2020, she was re-elected in the first round in 2022, 2024, and 2026, reflecting broad recognition of her commitment and leadership.In addition to serving as a Board Member, she has been Chair of the Board’s Safety, Environment, and Health Committee since January 2024 (having served as a member since 2020). She stands out for her active commitment to promoting sustainability, actions to combat workplace violence, the defense of human rights, support for programs focused on mental health and employee well-being, as well as environmental protection and ensuring operational and process safety. She has also been a member of Petrobras’ Investment Committee since January 2024, actively contributing to discussions and decisions on energy transition projects, guided by a commitment to sustainability and socio-environmental responsibility.
Composition and resumes of the members of the Board of Directors
Fiscal Council
Consists of five members with a one-year term, with reelection allowed. One of whom is appointed by minority shareholders, one by preferred shareholders and three by the Federal Government, which includes an appointment by the Finance Minister, as a representative of the Treasury.
Mariana de Assis Espécie
Elected by the Union | Holder Member
Ms. Mariana de Assis Espécie holds a degree in Biological Sciences and a PhD in Biology from Universidade Federal Rural do Rio de Janeiro, as well as a specialization in Public Management from Escola Nacional de Administração Pública. She works at the Ministry of Mines and Energy as Head of the Special Advisory for Technical Affairs,
dedicating herself to strategic advising to the Minister of State on priority agendas in the country’s energy and mineral sector, including electricity, oil, natural gas, biofuels, energy transition, and mining, as well as institutional coordination on strategic topics. She was Executive Officer of the Department of Energy Transition at the Ministry of
Mines and Energy, working on the formulation and monitoring of public policies aimed at energy transition and technological development in the sector.
She worked as a career employee at Energy Research Company, where she also served as Chief of Staff to the Presidency, gaining experience in energy planning, corporate governance, and support to the company’s statutory bodies, including annual accountability processes and institutional oversight.
Brenno Leopoldo Cavalcante
Elected by the Union | Alternate Member
Mr. Brenno Leopoldo Cavalcante de Paula holds a bachelor’s degree in Accounting Sciences from Universidade Potiguar (2001) and in Law from Centro Universitário do Distrito Federal (2010). He has experience in the federal public administration, working in the areas of administrative management, instruction and analysis of administrative
proceedings, and monitoring of public policies. He has held coordination roles at the Ministry of National Integration and the Ministry of Tourism, being responsible for supervising technical teams, consolidating management reports and accountability statements, monitoring budgetary and financial execution, preparing technical notes and opinions, responding to demands from internal and external control bodies, and advising senior management. He was Head of the Administrative Technical Advisory Office of the Minister’s Cabinet at the Ministry of Mines and Energy and currently serves as Head of the Strategic Coordination and Governmental Boards Advisory Office of the Minister of State for Mines and Energy.
Luciano José de Araújo
Elected by the Union | Holder Member
Mr. Luciano José de Araújo holds a bachelor’s degree in Law from Faculdade de Direito do Vale do Rio Doce (1987), a postgraduate degree in Financial Administration from UNA (1992), and an MBA in Business Management from AIEC (2007). He also participated in the Strategic Management for Business Leaders program at INSEAD, France (2008). He began his professional career at Banco Nacional, where he worked for thirteen years, including in the National Quality Directorate, with experience in team management, operational controls, processes, and performance
monitoring. Since 1995, he has been Partner and Chief Executive Officer of Provest, an industrial sector company, where he leads the strategic development of the business, focusing on governance, innovation, operational efficiency, and sustainable growth. Throughout his career, he has also held significant institutional and leadership roles in the industrial sector, having served as State Vice President of the Federation of industries of the State of Minas Gerais (FIEMG), CEO of FIEMG Regional Vale do Aço, and CEO of the Clothing Industry Union of Minas Gerais (Sindivest-MG), as well as Board Member of the Brazilian Textile Industry Association (ABIT) and member of the
Deliberative Council for Metropolitan Development of Vale do Aço. His work also includes participation in institutional coordination and regional economic development initiatives.
Gustavo Cerqueira Ataíde
Elected by the Union | Alternate Member
Mr. Gustavo Cerqueira Ataíde is a public servant at the Ministry of Management and Innovation, holds a bachelor’s degree in Civil Engineering from Universidade de Brasília (UnB) since August 2010, with extensive experience and strong performance in public policy and energy planning. He has a specialization in Public Policy and Government
Management in the Energy and Mineral Sectors from PUC-Rio, a Master of Public Policy from Escola Nacional de Administração Pública (ENAP) and Columbia University, and is currently pursuing a master’s degree in Economics and Finance at Fundação Getúlio Vargas. He has held various positions in the Federal Government, having served as
National Secretary for Energy Transition and Planning, responsible for developing public policies for the energy sector and coordinating the preparation and implementation of Brazilian energy planning instruments, such as the Ten-Year Energy Expansion Plan, the National Energy Plan, and the National Energy Balance, as well as coordinating energy information systems. He also served as Chief of Staff to the President of Energy Research Company (EPE) from October 2023 to June 2025, and as General Coordinator of Electric Power Expansion, working on planning and generation expansion auctions, in addition to having served as Technical Advisor in the Sub-Chief for Analysis and Monitoring of Government Policies (SAG) at the Chief of Staff’s Office, and as Advisor to the Department of Energy Planning at the Ministry of Mines and Energy (MME) in 2020.
Rafael Rezende Brigolini
Elected by the Union | Holder Member
Mr. Rafael Rezende Brigolini is Deputy Secretary of Fiscal Management at the National Treasury Secretariat, with extensive experience in public finance, credit operations, fiscal management, and corporate governance. He is an economist graduated from UNICAMP and has a solid track record in the federal public sector.
Daniel Cardoso Leal
Elected by the Union | Alternate Member
Mr. Daniel Cardoso Leal, a native of Brasília (DF), is Deputy Secretary of Public Debt at the National Treasury Secretariat, a federal public servant with more than ten years of experience in public debt management and the financial market. Throughout his career at the National Treasury, he has held leadership and coordination roles in the public debt area, including domestic and international issuances, risk management, and relations with investors and rating agencies. He also has experience in the private sector as a senior fixed income strategist at BGC Liquidez and has served on collegiate bodies as a member of the Fiscal Council: Indústria de Material Bélico do Brasil (IMBEL); BB
Leasing S.A. – Arrendamento Mercantil; Araucária Nitrogenados S.A. (ANSA).
He holds a degree in Mechanical Engineering from Universidade de Brasília (UnB) and an MBA in Finance from Ibmec. He has complemented his academic background with courses and certifications in corporate governance, financial markets, international accounting, compliance, and ESG.
Ronaldo Dias
Elected by Minority Shareholders Holding of Common Shares | Holder Member
Ronaldo Dias is bachelor of Accounting Sciences, graduated from Faculdade de Ciências Contábeis e Administração Moraes Junior in September 1977, with extensive experience in the financial and accounting area, having worked as a tax auditor at Banco Central do Brasil from June 1980 to February 25, 1997. He is currently a Board Member of Companhia de Energética de Minas Geras until April 26, 2024, Director of Banco Clássico S.A. and member of the Audit Committee, Portfolio Manager of accredited Funds by Comissão de Valores Mobiliários – “CVM” and Director of Socal.
Ricardo José Martins Gimenez
Elected by Minority Shareholders Holding Common Shares | Alternate Member
Ricardo José Martins Gimenez is a lawyer, founding partner of Alves Ferreira & Mesquita Sociedade de Advogados, graduated in Law from UNIP and licensed by OAB/SP in April 1995, also graduated in accounting technician in December 1989. He has experience in Corporate Governance, as well as Financial and Legal Management; Evaluation and Management of Risks and Assets; Structuring financial operations involving payroll, billing control, accounts payable, and cash flow; Capital Market and Corporate Law; Alternate member of the fiscal council of Renova in 2020; Alternate member of the fiscal council of KEPLER WEBER S/A in 2022 and currently Alternate member of the fiscal council of CEMIG since 2022.
Reginaldo Ferreira Alexandre
Elected by Shareholders Holding Preferred Shares | Holder Member
Mr. Reginaldo Ferreira Alexandre is an Economist with eighteen years of experience in the investment analysis field, serving as an analyst, organizer, and director of analysis teams, having held these positions successively at Citibank, Unibanco, BBA (now Itaú-BBA), and Itaú Corretora de Valores. Additionally, he worked as a corporate credit analyst (Citibank) and as a consultant in strategy (Accenture) and corporate finance (Deloitte). He has also worked at ProxyCon Consultoria Empresarial, a company focused on advisory and service provision activities in the areas of capital markets, finance, and corporate governance. Member of the Accounting Pronouncements Committee (CPC) – the body responsible for formulating Brazilian accounting standards – from its foundation in 2005 until April 2024. Certified investment analyst (CNPI). Accredited securities manager by CVM. Certified Fiscal Council Member by IBGC. Co-author of the Brazilian Corporate Governance Code – Public Companies (incorporated into CVM Instruction 586). Extensive experience as a board and fiscal council member of companies, having held these positions in over twenty companies in recent years, including currently serving on the boards of directors of Mahle Metal Leve and Sanepar, as well as the fiscal councils of Rumo S.A., Banrisul, Oncoclínicas, Kepler Weber, and, in the private sector, CEB Lajeado. Former Petrobras Fiscal Council Member from 04/2013 to 04/2019, as well as at Embraer, BRF, Companhia Energética de Brasília, Ser Educacional, Sabesp, Sanepar, Iochope Maxion, Aliansce Shopping Centers S.A. (now Allos), Cremer S.A., Movida, CPFL S.A., Tecnica, Unipar Carbocloro, Paraná Banco, Telenorte Celular Participações S.A., among others. Former President of the Brazilian Association of Analysts and Investment Market Professionals – APIMEC, elected for the 2015–2016 term. Former President of APIMEC São Paulo Chapter, elected for the 2011–2012 term. Former Member of the B3 State-Owned Governance Committee. Former Member of the Mergers and Acquisitions Committee – CAF.
Vasco de Freitas Barcellos Neto
Elected by Shareholders Holding Preferred Shares | Alternate Member
Mr. Vasco Barcellos has extensive experience in the executive area, developed in publicly traded companies and banks. He has solid leadership, interpersonal, planning and control skills. He has been responsible for implementing strategic projects in Finance and Management, such as: launching IPOs, debentures and structured debt operations in the capital markets; financing infrastructure projects; implementing budgets, control and management systems; implementing start-up companies; debt/corporate restructuring; executing M&A deals. 08/2022 to 04/2023 (Regular member); and (x) LOJAS RENNER S.A. – since October 2020 (Substitute member).
Executive Board
It comprises of a chairman and seven executive directors elected by the Board of Directors, with a term of up two years, with a maximum of three consecutive reelections permitted, and may be dismissed at any time. Among the members of the Executive Board, only the president is a member of the Board of Directors without, however, presiding over the body.
Magda Chambriard
CEO
Ms. Magda Maria de Regina Chambriard is a member of the Board of Directors and CEO of Petróleo Brasileiro S.A. – Petrobras since May 24, 2024. Magda Chambriard holds a Master’s degree in Chemical Engineering from COPPE/UFRJ (1989) and a Civil Engineering degree from UFRJ (1979), with a specialization in Reservoir Engineering and Formation Evaluation and a specialization in Oil and Gas Production, at what is now known as Petrobras University. She has taken several courses, in addition to those related to oil and gas production, including Management Development in Production Engineering, Negotiation of Exploration and Production Contracts, Qualification in Negotiation in the Oil Industry, Risk Management, Accounting, Management, Leadership, Development for the Board of Directors. She began her career at Petrobras in 1980, always working in the Production area, where she accumulated knowledge of all the areas under production in Brazil. She was transferred to the ANP to take on the role of advisor to the Exploration and Production director in 2002, when she was working as an E&P business consultant in Petrobras’ New E&P Business area. At the ANP, soon after taking over the advisory role, she also took over the Exploration and Block Definition superintendencies, with a view to bidding rounds. She was responsible for implementing the ANP’s Multiannual Geology and Geophysics Plan, which resulted in the collection of essential data for successful bidding in new frontier sedimentary basins. She took over the ANP’s Board of Directors in 2008 and the General Directorate in 2012, having led the creation of the Safety and Environment Superintendence, the Information Technology Superintendence, the work related to studies and the drafting of contracts and public notices, the technical studies that culminated in the first pre-salt bid, as well as the traditional concession bids. She was responsible for the areas of Auditing, Internal Affairs, Public Prosecutor’s Office, Bid Promotion, Supply, Inspection of Fuel Distribution and Resale, Human Resources, Administrative-Financial, Government Relations, as well as those related to the Exploration and Production segment. In June 2024, she became Chairman of the Board of Directors of the Brazilian Oil and Gas Institute – IBP.
Angélica Garcia Cobas Laureano
Chief Logistics, Commercialization and Markets Officer
Angélica Garcia Cobas Laureano has 45 years’ experience, including 37 years working for Petrobras, 21 of which are in leadership positions. She worked in Materials, Downstream, Gas and Energy areas, and was president of Gaspetro, a Petrobras subsidiary in partnership with Mitsui Gás S.A., responsible for managing stakes in 19 natural gas distributors in several Brazilian states. After retiring from Petrobras, she worked as a consultant on natural gas projects. She was President of Transportadora Brasileira Gasoduto Bolívia-Brasil SA.
Clarice Coppetti
Chief Corporate Affairs Officer
Clarice Coppetti has a degree in Accounting and Economic Sciences. She has a postgraduate degree in Strategic Information Technology Management from FGV and a postgraduate degree in Forensic and Banking Law from UniBF/Ibcappa. She was Commercial Director of Companhia de Processamento de Dados do Estado do Rio Grande do Sul, PROCERGS, and was Vice-President of Information Technology at CAIXA Econômica Federal. She was Director of Operations and Services of the Olympic Public Authority and Director of Institutional Relations, accumulating the Financial Directory of the company NORTE ENERGIA S/A. She was full member of the Audit Committee of CAIXA Econômica Federal, full member of the Risk Committee of CAIXA; President of the Information Technology Committee of CAIXA Econômica Federal. She was a full member of the Deliberative Council and of the Fiscal Council of Fundação dos Economiários Federais, FUNCEF. She was full member of the Board of Directors of CAIXA Capitalização S/A and alternate member of the Fiscal Council of CAIXA Consórcios S/A. She is currently a member of CAIXA’s Audit Committee.
Fernando Sabbi Melgarejo
Chief Financial and Investor Relations Officer
Fernando Sabbi Melgarejo has a degree in Economics from União Educacional de Brasília (UNEB), a postgraduate degree in International Business from Fundação Getúlio Vargas (FGV) and a master’s degree in Business Economics from Universidade Católica de Brasília (UCB). He worked for 37 years in the Banco do Brasil S/A conglomerate, of which he dedicated around 30 years to the financial area, where he was an Executive Manager in the Finance and Investor Relations Department of Banco do Brasil, in the area of Financial Structuring and Analysis. He was Head of Participations at Previ (2022-2024), where he also held the position of Technically Qualified Statutory Administrator (AETQ) (2022-2023), and a Trustee of the Banco do Brasil Foundation. He has also served as a Board Member and member of the Audit Committee of Neoenergia (2023-2024); effective member of the Board of Directors of Invepar (2022-2023); Effective Board Member of Economus Instituto de Seguridade Social (2020-2022); member of the Finance Committee of Cielo (2019-2022), member of the Finance Committee of Cateno (2016-2019); effective member of the Fiscal Council of the Brazilian Instituto Brasileiro de Executivos de Finanças (2009-2011); and member of the Board of Directors of Cassi (2008-2010), where he also served as a member of the Fiscal Council, Finance Committee and Coaud. He is currently Chairman of the Board of Directors of the Litel Group.
Ricardo Wagner de Araujo
Chief Governance and Compliance Officer
Ricardo Wagner de Araujo holds a bachelor’s degree in Business Administration from the Federal
University of Bahia, a bachelor’s degree in Law from the University Center of the Federal District, and a
master’s degree in Law from the University of Notre Dame. He is a professor at IBMEC/DF and has over
18 years of experience in the Federal Public Administration, serving as a Federal Auditor of Finance and
Control at the Office of the Comptroller General, where he has held various commissioned positions and
trust roles, including Federal Inspector General, General Coordinator for Monitoring Leniency
Agreements, Director of Accountability for Public Agents, and Deputy Inspector for the Economic Area.
He also served as Executive Secretary of the Public Ethics Commission and is currently a Board Member
of the Financial Activities Control Council (COAF).
Renata Baruzzi
Chief Engineering, Technology, and Innovation Officer
Renata Baruzzi has a degree in Mathematics from the State University of Campinas (Unicamp), a specialization in Strategic Technology Management from COPPE/NCE and in Business Administration from IBMEC, as well as several extension courses abroad, including the Advaced Management Program (AMP) at Harvard Business School. She joined Petrobras 38 years ago and worked at the Cubatão Refinery (RPBC) and Paulínia Refinery (REPLAN) during the company’s first 8 years. She began her management career in 2001 in HR, then moved to Engineering, where she worked at all management levels for 12 years, becoming Executive Manager of ETM-CORP (Engineering, Technology and Materials – Corporate) in 2012. She has international experience, where she served as Corporate Manager at Petrobras America Inc (Houston, TX) from 2015 to 2019. He was currently managing the Integrated Logistics Management area.
Sylvia Maria Couto dos Anjos
Chief Exploration and Production Officer
Since 2023 special advisor to the CEO of Petrobras, Sylvia Maria Couto dos Anjos has a degree in Geology from the Federal University of Rio de Janeiro (UFRJ), a master’s degree in Geology from the University of Illinois at Urbana-Champaign and a PhD from the same university. A retired Petrobras geologist, she has more than 42 years’ experience in the E&P area, having held various managerial positions throughout her career at the company, with special emphasis on the roles at Cenpes, in the General Exploration Management, as General Manager of Technologies for the Libra Asset. She also worked on the “Competitive Gas & Energy” program, preparing Petrobras for the new competitive scenario for natural gas in Brazil. She has supervised numerous master’s and doctoral theses, with dozens of national and international publications. Member and co-founder of IBP’s Diversity Committee since 2018. She was president for two terms of the Brazilian Association of Petroleum Geologists – ABGP and also vice-president of the American Association of Petroleum Geologists – AAPG Latin America.
William França da Silva
Chief Industrial Processes and Products Officer and Interim Chief Energy Transition and Sustainability Officer
William França da Silva holds a degree in Chemical Engineering from the Federal University of Rio de Janeiro (UFRJ) and in Law from the State University of Rio de Janeiro (UERJ), an MBA in Business Management (COPPEAD/UFRJ) and training in Strategic Management and Value Chain (INSEAD/France). He began his career at Petrobras as a processing engineer in 1988, at the Duque de Caxias Refinery/RJ (Reduc). His professional experience includes work as asset manager of the Guillermo Bell Refinery/Bolivia and general manager of the refineries: RPBC/Cubatão-SP; REGAP/Betim-MG; RLAM/Mataripe-BA; and REDUC/Duque de Caxias-RJ. He was also executive manager and director of Transpetro and Transpetro Internacional. He is currently Chairman of the Board of Directors of Petrobras Transporte S.A. – Transpetro and a member of the Board of Directors of Refinaria de Petróleo Riograndense – RPR.
Committees
Board of Directors Committees
The Board of Directors will have 6 (six) advisory committees, with specific duties for analysis and recommendation on certain matters, directly linked to the Board: Investment Committee; Audit Committee; Audit Committee of the Petrobras Conglomerate; Safety, Environment and Health Committee; People Committee; and Minority Committee. These committees aim to assist the Board in the fulfillment of its responsibilities for guiding and leading the Company.
Members
Composition and resumes of the members of the Board of Directors' Committees
Regulations
Internal Regulations of the Statutory Audit Committee - (available in Portuguese)
Investment Committee Internal Regulations - (available in Portuguese)
HSE Committee Internal Regulations - (available in Portuguese)
Minority Committee Internal Regulations - (available in Portuguese)
Internal Rules of the People Committee - (available in Portuguese)
Statutory Technical Committees
The Executive Board counts on the advice of the Statutory Technical Committee on Investment and Divestment.
The members of the Executive Board have 8 (eight) technical advisory committees, composed of members of the general structure, with specific duties for analysis and recommendation on certain matters:
- Statutory Technical Committee for Engineering, Technology and Innovation
- Statutory Technical Committee for Exploration & Production
- Statutory Technical Committee for Industrial Processes and Products
- Statutory Technical Committee for Logistics, Trading and Markets
- Statutory Finance and Investor Relations Technical Committee
- Statutory Technical Committee for Governance & Compliance
- Statutory Technical Committee for Corporate Affairs
The composition and operating rules of the Statutory Technical Committees are governed by regulation approved by the Board of Directors.
Regiments
Deliberative and Advisory Committees
The Executive Board may create committees, with delegated powers, linked to this body or directly to one of its members. The committees can be of a deliberative or consultative nature and have the purpose of assisting the Executive Board in the fulfillment of their duties and responsibilities. These committees are composed of managers from different areas of the company, in order to guarantee a multidisciplinary view in the analysis and discussion of matters, as well as in the decision-making process. The composition and rules of operation of the committees will be governed by regulations to be approved by the Executive Board and submitted to the Board of Directors.
The deliberative and consultative committees can set up commissions and working groups, with predominantly tactical and operational activities, to support them in the performance of their duties.
Performance evaluation and Remuneration
The performance evaluation of the Board of Directors (BoD) is conducted through a diagnosis prepared by specialized consulting, contracted through a bidding process. The results of the evaluations are sent to the BoD in order to identify possible improvement opportunities, without impacting on the remuneration of its members or on the members of its committees, since the remuneration they receive is fixed. The performance of the Executive Board is evaluated annually by the BoD, taking into account three dimensions: competencies, management criteria, and results.
Regarding variable remuneration, we have the following programs: Performance Bonus (PRD) and Profit and Results Sharing Program (PLR), both for employees holding or not holding gratified positions; in addition to the Performance Bonus (PPP), exclusive for members of the Executive Board (President and Executive Directors).
Forty percent of the payment for PPP payment is deferred over five years, with values referenced by the market price of Petrobras shares without granting stock options of the company. Additionally, we have mechanisms for the protection of the company (clawback), where members of the Executive Directors forfeit the upfront and deferred portions of the PPP – or of the PRD for executive managers and general managers in cases of resignation or when sanctions provided in the consequences system are applied.
The company has four top metrics, three of which are used for the variable remuneration of all our employees (IAGEE, VAZO, and DELTA VALUE), two of which are related to ESG themes (IAGEE and VAZO). Furthermore, in 2024, we included one more performance criteria linked to the results of the Dow Jones Best-in-Class Index as an additional ESG target for the Directors and the President.
In the following chart, we present the minimum remuneration linked to ESG targets:
Minutes of Board and Committee Meetings
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