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The fallout from a
missing Petrobras dividend may have shifted the
balance in a tug-of-war between the CEO of the state-run firm
and the energy minister holding sway over its board. .
The fallout from a missing Petrobras dividend may have shifted the balance in a tug-of-war between the CEO of the state-run firm and the energy minister holding sway over its board. Chief Executive Jean Paul Prates saw his proposal for an extraordinary dividend, widely expected by shareholders, go down in flames last Thursday, blocked by government-appointed board members. The next day Petrobras shares plunged more than 10%.
Brazil s state-run
oil company Petrobras Chief Executive Jean Paul
Prates said on Monday that he is not planning to leave his role
after a board decision to withhold extraordinary dividends.
Brazilian state-run
oil company Petrobras shares fell by around 5% after
the firm s Chief Executive Jean Paul Prates was quoted as saying
the firm would be cautious about issuing extraordinary.