Braskem Shareholders Elect Petrobras Chief Magda Chambriard as Chair

Overview

• Shareholders approved Magda Chambriard to lead Braskem’s board and chose Héctor Núñez as vice chair at the company’s annual meeting.
• The meeting also set a two‑year term for a refreshed board and confirmed three independent directors named in the minutes.
• Voting took place by slates after requests for cumulative voting fell short and there was no separate election by minority investors due to lack of quorum.
• Petrobras holds 36.1% of Braskem, while Novonor now has about 4% after recent sales that reduced its long‑standing stake.
• Analysts expect Petrobras to gain more sway over Braskem’s governance as new board leadership and a potential shareholder pact take shape.