Nine members of Eletrobras’ board of directors resigned this Saturday (18), following material circumstances disclosed by the company.
This is one of the steps towards privatization of the company. Despite the resignation, they will continue in their positions until the new directors are sworn in, which will be decided at a general meeting.
“It was quite successful,” points out the specialist in the Eletrobras share offering
The board of directors is the body on which the company’s shareholders are represented and has the task of setting goals and appointing executives, but does not carry out the actual tasks of the company (which are carried out by the executives).
- With the privatization, Eletrobras signs contract extensions for 22 hydroelectric power plants
In total, the Board of Eletrobras has 11 seats. In addition to the nine who have left, there is one employee representative and one without a title holder.
Eletrobras President Rodrigo Limp was also on the board. He’s one of those who resigned, but he remains in the leadership position.
Preparations for privatization
On Friday, Eletrobras reported that it had met “all the conditions for the privatization process” by signing power generation concession contracts with its subsidiaries.
In a statement, the company highlights that the new contracts cover 22 hydroelectric power plants (UHEs).
This week, the company was in the spotlight for the bellringing ceremony to celebrate the subsequent offering of Eletrobras shares to B3, which took place on Tuesday (14th) and marked the largest privatization among several privatizations promised by the federal government, ending in the era of state control of the largest Brazilian company in the electricity sector. In last week’s consolidated operation, more than 800 million shares of the company were sold at a price of R$42 for each common share of the company, for sales of R$33.7 billion.