Petrobras Top Executives May See Compensation Increased By Over 43% And President's Salary Could Reach R$ 167 Thousand

Petrobras Top Executives May See Compensation Increased By Over 43% And President’s Salary Could Reach R$ 167 Thousand

Written by Roberta Souza

Published on 26/03/2023 at 10:10

Fonte: Shutterstock

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For Petrobras, the salary increase is justified by the good results obtained and by the salary deficiency of the administrators in relation to other companies in the sector

The top management of Petrobras is composed of the president, directors, and councilors. The approval for the salary increase for these positions took place at the meeting of the state board of directors this Wednesday (22). However, to take effect, the proposal needs to be approved by the general assembly of shareholders, scheduled for April 27.

What Does This Increase Imply?

With the 43.88% increase on the fixed remuneration (which does not consider allowances or profit sharing) for the highest positions in the state company, the salary of President Jean Paul Prates, which currently hovers around R$ 116 thousand, will rise to about R$ 167 thousand.

According to the Consolidated Report of Federal State-Owned Companies 2022, the average remuneration of administrators and the fiscal council exceeded R$3.9 million per position, considering fixed salary, profit sharing, and bonuses.

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Petrobras Considers The Salary Increase Coherent, However, It Generates Anger From Other Authorities

In an interview with the newspaper Correio Braziliense, Petrobras stated that the fixed remuneration of directors “had been frozen since 2016.” The state company also stated, in a note, that the increase will not have an immediate effect, as, if approved, it will only take effect after the date of the ordinary general assembly of 2023.

However, some authorities are not satisfied with the proposal, including the head of Planalto, who stated in an interview with TV 247: “The salary of directors increased from R$60 thousand to R$360 thousand per month, and a citizen who is on a council earns R$200 thousand to participate in one meeting a month. So these absurdities are what we are looking to change.”

Petrobras Top Executives May See Compensation Increased By Over 43% And President’s Salary Could Reach R$ 167 Thousand

For Petrobras, the salary increase is justified by the good results obtained and by the salary deficiency of the administrators in relation to other companies in the sector

What Does This Increase Imply?

Petrobras Considers The Salary Increase Coherent, However, It Generates Anger From Other Authorities

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Petrobras Top Executives May See Compensation Increased By Over 43% And President’s Salary Could Reach R$ 167 Thousand

For Petrobras, the salary increase is justified by the good results obtained and by the salary deficiency of the administrators in relation to other companies in the sector

What Does This Increase Imply?

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