Two board members did not approve Petrobras' financial statements.
Petrobras confirmed on Tuesday that board members Mauro Cunha and Silvio Sinedino voted against the 2014 financial statements, presented last week, and a third, José Guimarães Monforte, abstained from voting on the balance sheets; the state-owned company had a loss of 21,6 billion reais last year, after accounting for losses of 6,2 billion reais due to corruption and reducing the value of its assets by more than 44 billion reais.
Reuters - Petrobras confirmed on Tuesday that Board members Mauro Cunha and Silvio Sinedino voted against the 2014 financial statements, presented last week, and a third member, José Guimarães Monforte, abstained from voting on the financial statements.
Cunha, who represents the minority ordinary shareholders, cited, among other issues, the lack of sufficient time to review the documents as the reason for his positions.
Sinedino, representing the state-owned company's employees, voted against the financial statements because he disagreed with the methods used to calculate write-offs.
Monforte, who represented the preferred shareholders and resigned from his position on Friday, abstained from voting on the financial statements, but opposed the payment of Profit Sharing (PLR) to the state-owned company's employees. Cunha also opposed the distribution of PLR.
Despite deciding to pay the profit-sharing bonus, Petrobras will not pay dividends to shareholders this year.
Petrobras suffered a loss of 21,6 billion reais last year, after accounting for losses of 6,2 billion reais due to corruption and reducing the value of its assets by more than 44 billion reais.