Petróleo Brasileiro S.A. - Petrobras | Allocate Cumulative Votes to Mauro Gentile Rodrigues da Cunha

Status
AGM passed
AGM date
Proposal number
11
Resolution details
Company ticker
APBRX
Lead filer
Robeco
Co-filers
Royal London Asset Management, Franklin Templeton
Resolution ask
Other ask
ESG theme
  • Governance
ESG sub-theme
  • Other
Type of vote
Director vote
Filer type
Shareholder
Company sector
Energy
Company HQ country
Brazil
Resolved clause
Robeco, Royal London Asset Management, and Templeton Brazil have nominated Mr. Mauro da Cunha as an independent member of the Petrobras Board of Directors.
Whereas clause
Strong independent oversight is essential as Petrobras executes its 2026–2030 Business Plan while managing oil‑price volatility, political risk, and tightening global sustainability expectations.

Mr. da Cunha previously served a term on the Petrobras board (2013–2015), playing a key role during a period of excessive leverage, pricing challenges, and major governance failures. He was a strong advocate for transparency and accountability throughout. The nominating investors have a long track record of constructive engagement with Petrobras on governance and climate‑transition issues, including support for minority‑shareholder nominations in earlier critical phases of the company’s history.
Supporting statement
Mr. da Cunha brings extensive governance expertise, deep energy‑sector knowledge, and a strong reputation for independence — including leadership at Amec, where he championed Brazil’s corporate governance agenda and the Brazilian Stewardship Code.

The investors are convinced he is the best‑qualified candidate to represent minority shareholders and strengthen Petrobras’ governance framework.

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