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A Brazil court overturned a decision by a lower court to suspend Sergio Machado Rezende from the Petrobras (NYSE:PBR) board, Reuters reported late Monday.
Rezende had been suspended from the board by a Sao Paulo court last week over “alleged failure to comply with the requirements of the company’s bylaws in the appointment.”
The same court also suspended Petrobras (PBR) Chair Pietro Sampaio Mendes from his role over a conflict of interest regarding his previous position in the Ministry of Energy, which the court said could influence his decisions at the company.