Petrobras Chief Nominates Sergio Caetano Leite as New CFO

Brazil’s state-owned energy company’s CEO has picked Sergio Caetano Leite as its new CFO, a nomination anticipated by analysts and board members

February 17, 2023 | 05:55 PM

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Bloomberg Línea — Brazilian energy giant Petrobras (PETR3, PETR4) announced Friday that CEO Jean Paul Prates has picked Sergio Caetano Leite as the company’s new chief financial officer and head of investor relations, and Clarice Coppetti as executive director of institutional relations and sustainability.

Leite’s nomination was the most anticipated by analysts and investor board members, as his role will include setting the guidelines for the payment of dividends and for the allocation of capital.

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According to a material fact filed by the company, Leite has a master’s degree in economics and management, is a portfolio and investment fund manager certified by Brazil’s securities and exchange commission (CVM), and has “international experience in investment banking and mergers and acquisitions in Brazil and abroad”.

According to the state-owned company, Leite the executive has worked for more than 15 years in the oil industry as a financial consultant and in capital markets in fund management and fiduciary administration, serving institutional and structured funds.

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Recently, Leite served as undersecretary of the Consórcio Nordeste, responsible for sanitation, energy (renewables, oil and gas), and infrastructure and investments. Leite also coordinated the consortium’s investment platform, structuring more than 2 billion reais ($387 million) in funding for the member states over the past three years, according to the Petrobras filing.

For her part, Coppetti, the new executive director of institutional relations and sustainability, has a degree in accounting and economic science. She has held the positions of commercial director of Companhia de Processamento de Dados do Estado do Rio Grande do Sul (PROCERGS), and vice-president of information technology at CAIXA, among other positions.

The oil company added that the nominations will be submitted to internal corporate governance procedures and, subsequently, to the board of directors for discussion and approval.

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