Petrobras shareholders elected a new board of directors on Thursday (16), chaired by Guilherme Mello, executive secretary of the Ministry of Planning and Budget. They also approved a R$8.1 billion dividend payout from 2025 profits.
Petrobras shareholders met in assembly on Thursday (16) to elect the new board of directors, with a term until April 2028, contingent on President Luiz Inácio Lula da Silva's reelection. Guilherme Mello, former economic policy secretary at the Finance Ministry, will chair it, replacing Bruno Moretti, who left in March to become Planning Minister. Marcelo Weick Pogliese had served interim.
The board includes company President Magda Chambriard, Renato Galuppo, José Fernando Coura, and Fábio Henrique Bites Terra, with the first three carrying over from the prior management. The government renewed half its nominees and holds six of 11 seats, as since 2021. Banker José João Abdalla Filho, the largest individual shareholder, secured two seats for himself and Marcelo Gasparino. Minority shareholders elected Rachel Maia and Francisco Petros, while employees reelected Rosângela Buzanelli.
Shareholders also approved 2025 results, with R$110 billion profit, and confirmed the R$8.1 billion dividends announced in March. Payments will come in two installments in May and June, bringing the total for the year to R$45.2 billion. The controlling group, federal government and BNDES, will receive R$17.6 billion.
Administrators' pay was approved, with a 4.26% raise for executive directors' salaries, averaging about R$150,000 monthly per director including 13th salary. Mello will resign from the PPSA board to take the new role.
