Petrobras’ CFO and Investor Relations officer, Almir Guilherme Barbassa, was named the 2010 CFO of the Year in Brazil, in the Expansion category. The award was granted by Latin Trade, the premier pan-regional business publication in Latin America and the Caribbean for 18 years.
The CFO of the Year Awards recognizes financial executives who have excelled in managing growing companies or enterprises that have undergone major changes. Among the criteria used to award Petrobras’ director, Latin Trade highlighted the success of the 2010 capitalization process. The world’s biggest capital increase transaction, the public offering raised R$120 billion with the issuance of more than 4 billion shares. “Almir Barbassa has played a key role in the success of the financial operations carried out by Petrobras, the largest company in Latin America, among which last year’s landmark share offer and the continuing actions aimed to raise the capital needed to expand the company” , said Joachim Bamrud, the Executive Editor of Latin Trade.
Almir Barbassa has been Petrobras’ CFO and Investor Relations officer for six years. While accepting the award, the director thanked the company’s financial area teams, and stressed the importance of adjusting Petrobras’ capital structure for the next growth phase. “The capitalization brought us the peace of mind to build a high rate of liquidity for the Company, which today boasts the largest investment program of any industry in the world,” he said. Petrobras’ business plan foresees investments in the order of $224.7 billion between 2011 and 2015.
The winners of the CFO of the Year Awards were chosen by a Latin Trade editorial committee. The award recognizes excellence in Latin American business management and highlights the CFO of the Year in Brazil, Mexico and Latin America. Barbassa received the award during an event held this Thursday, July 28, in São Paulo.
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Source: Petrobras, July 31, 2011;