CVM clears resignation of Petrobras HR manager suspected of insider case


The Brazilian Securities and Exchange Commission (CVM) is analyzing the episode that resulted in the dismissal of Petrobras’ Human Resources manager, Claudio Costa, last Monday, 29, on the charge of negotiating shares of the state company on the stock exchange a few days before the announcement. the company’s results.

In a statement, Petrobras said that he acted, “in a one-off episode”, in disagreement with the provisions of the policy for the disclosure of a relevant act or fact and for the negotiation of securities. It prohibits the trading of securities issued by Petrobras by related persons in the 15 days preceding the disclosure of the company’s financial statements, explains the state-owned company.

The case is being analyzed by the CVM as part of a lawsuit opened on March 2 to investigate several transactions with securities of the oil company in the period close to the change of command in the company determined by the President of the Republic, Jair Bolsonaro. The regulator of the capital market started the investigation after raising the possibility of using insider trading with shares of the state-owned company.

A trusted man of the president of Petrobras, Roberto Castello Branco, Costa also left the board of directors of the Logistics subsidiary of the state-owned company, Transpetro. “I concluded my journey in the Petrobras group,” said Costa, in a brief conversation with the Broasdcast, by phone. He denied that he had committed any wrongdoing while he was at the head of the company’s HR and handed over to the state-owned company the responsibility for taking a position on the decision to fire him. According to the executive, “it is untruths that are being disclosed” against him.

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