© Reuters. FILE PHOTO: A person walks past the headquarters of Brazilian power company Eletrobras in Rio de Janeiro, Brazil January 3, 2019. REUTERS/Pilar Olivares
SAO PAULO (Reuters) – The board of Brazilian power company Eletrobras on Friday elected Wilson Ferreira Junior as its new chief executive and Ivan Monteiro as its chairman.
The elections come after shareholders appointed a new board of directors for the newly privatized company earlier on Friday.
Ferreira will take office on September 20, returning to the position after serving as CEO of Eletrobras from 2016 to 2021.
Monteiro is a former chief executive officer of state oil company Petrobras.
The leadership changes mark a fresh start for Latin America’s largest utility company, after the government slashed its stake in the company to 45% from 72% of voting capital through the offering. privatized shares worth 33.68 billion reais ($6.51 billion).
