|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PBR 20-F filed May 22, 2009. Qualification
of Directors
Brazilian law provides that only shareholders of a company may
be appointed to its board of directors, but there is no minimum
share ownership or residency requirement for qualification as a
director. Members of our board of executive officers must be
Brazilian nationals and reside in Brazil. Our directors and
executive officers are prevented from voting on any transaction
involving companies in which they hold more than 10% of the
total capital stock or of which they have held a management
position in the period immediately prior to their taking office.
Under our bylaws, shareholders set the aggregate compensation
payable to directors and executive officers. The board of
directors allocates the compensation among its members and the
executive officers.
This excerpt taken from the PBR 20-F filed Jun 30, 2005. Qualification of Directors
Brazilian law provides that only shareholders of a company may be appointed to its board of directors, but there is no minimum share ownership or residency requirement for qualification as a director. Members of our board of executive officers must be Brazilian nationals and reside in Brazil. Our directors and executive officers are prevented from voting on any transaction involving companies in which they hold more than 10% of the total capital stock or of which they have held a management position in the period immediately prior to their taking office. Under our bylaws, shareholders set the aggregate compensation payable to directors and executive officers. The Board of Directors allocates the compensation among its members and the executive officers.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for PBR: |
| |||||||
