The nomination committee of Maha Energy has informed the Company’s board of directors that it intends to propose that an extraordinary general meeting resolves to appoint Paulo Thiago Mendonça as the new chairman of the board of directors. The board of directors has therefore resolved to appoint Kjetil Solbraekke as the new CEO, effective as from the extraordinary general meeting electing Paulo Thiago Mendonça as the chairman of Maha’s board of directors.

Paulo Thiago Mendonça

“The change we are proposing today is in line with our intention to governance Maha to future success. We are strengthening the execution of our management to operate our assets in order to pursue the creation of a cash flow-oriented company with a solid balance sheet and continue our growth strategy,” says Paulo Thiago Mendonça, CEO Maha, and Kjetil Solbraekke, board member, Maha.

Kjetil Solbraekke has over 30 years of experience from the Norwegian Oil and gas sector in various positions as Assistant director general in the Ministry of Petroleum in Norway, SVP and CFO in Norsk Hydro, CEO in Panoro Energy and Sintef do Brazil, Founder and CEO in DBO Energy. He has lived in Brazil since 2006.

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