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Petrobras calls shareholders meeting to elect eight board members

RIO DE JANEIRO, June 15 (Reuters) - The board of directors of Brazil’s state-controlled oil firm Petroleo Brasileiro SA authorized holding an extraordinary shareholders meeting to elect eight new board members, the company said in a securities filing on Tuesday.

It gave the company 45 days to draw up the notice.

“The Company reiterates its commitment to transparency and will keep the market informed about possible developments,” the filing said.

Marcelo Gasparino, a Petrobras board member who represented minority shareholders, resigned on April 16 after saying he planned to do so to force a new shareholders’ meeting.

Gasparino tendered his resignation just four days after his election to the post, alleging that market shareholders were being deprived of their full voting rights.

Petrobras said a new board election was only required when members were forced out, not when they resigned.

The Petrobras board has seven government-appointed members, one representing workers and three representing market investors.

A larger number of market-aligned members is generally seen as positive by the market, though some analysts question the importance of the board breakdown given that the government statutorily holds the majority of seats.

Reporting by Anthony Boadle; Editing by Stephen Coates

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