.png)
Antonio Brufau, the oil industry’s longest serving chairman, will keep going despite an earlier pledge to step down from his position at Repsol SA. Brufau was reelected by a majority of votes at the Madrid-based oil producer’s annual shareholders meeting on Thursday, granting him four more years overseeing a company that has undergone a sweeping transformation during his tenure. The exact amount of shareholders who backed him will be made public later. Since his appointment in 2004, the former refining monopoly has fought off a takeover attempt, weathered the fallout from the nationalization of assets in South America and announced a major push into green energy. Repsol said in 2019 that Brufau, 75, wanted the current four-year term to be his last. But widespread changes over the past 18 months among the company’s top ranks — including the departures of the head of upstream, the head of clean energy, and the head of communications and regulation — prompted a rethink. With a much younger executive committee running the company, the board decided to recommend that Brufau should stay on. Brufau’s 18-year term makes him the third-longest serving chairman among 37 publicly-listed oil and gas companies that pump the equivalent […]
CamTrader offers a preview only. View original article. www.jwnenergy.com
