Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 132

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 132
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 the IPIECA Oil and Gas Industry Guide for Voluntary Reporting as a complementary reporting methodology. These reports are available on our website at www.petrobras.com.br/ir.
 

Annual Report and Form 20-F 2024 |
Corporate Governance
 
Good corporate governance and compliance practices are a pillar of support for our business. In recent years, we have made significant advances in our corporate governance and in our integrity, compliance and internal controls systems. We have also adopted rigorous ethics and integrity standards through initiatives that reinforce our purpose, values, and commitment to continuous improvement and alignment with good market practices.
 Our corporate governance model has a set of rules and procedures that seek to ensure that our decisions are aligned with good governance:
 
<{self.tag} alt="{self.alt}" src="{self.src}"> OUR MAIN GOVERNANCE PRACTICES
   Criteria for selection of members of the Board of Directors and the Executive Officers are set out in our Bylaws and comply with the conditions imposed by art. 147 of the Brazilian Corporation Law, as well as those provided for in Law No. 13,303/16, in Decree No. 8,945/16 and our Policy for nomination of Senior Management Members. Our Bylaws provide that, for appointment to such positions, we will consider both material and formal conflicts set forth in Law No. 13,303/16.
 Law 13,303/16, among other requirements, requires that our Board of Directors be formed by at least 25% of independent members. Our Bylaws extended the requirement to 40%; however, this provision can be amended.
 Our Board of Directors nominates the chief governance and compliance officer. The majority of the board must approve the dismissal of such officer, with the vote of a majority of the directors elected by minority shareholders. As provided for in our Bylaws and in Law No. 13,303/16, the chief governance and compliance officer is guaranteed, in the exercise of his duties, the possibility of reporting directly to the Board of Directors.
 In addition to the requirements of the Bylaws and current legislation, in accordance with the guidelines of our Policy for nomination of Senior Management Members, we seek to achieve diversity in the composition of the Board of Directors and complementarity of experiences and qualifications. The Executive Officers consists of members with exclusive dedication, and requires at least 10 years of leadership experience, preferably in the business or in a related area.
 Our nominations process includes the verification of additional integrity criteria, provided for in our Bylaws and