(Adds detail on the role, CFO appointment, analyst comments)
SAO PAULO, May 30 (Reuters) – The top executive of AES Brasil is leaving the power firm to take on a newly created senior role for renewable energy and other environmental and social issues at fuel retailer Vibra Energia SA, the firms said in statements on Tuesday.
Clarissa Sadock has been the chief executive of AES Corp’s Brazilian unit since 2021. She is set to start a two-year term in Vibra’s new department focused on renewables and environmental, social and governance (ESG) issues from Aug. 1.
Through the department, Vibra seeks to speed up the integration of several recently established joint-ventures into its business, the company said.
Analysts at Citi welcomed the news, saying it “may address investors’ concerns regarding the company’s (Vibra’s) growth avenue” with subsidiaries such as “Comerc, Evolua, Zeg and others.”
“Mrs. Sadock’s extensive experience in the energy sector is expected to help the company put the long-term growth plan for renewable energy back on track and unlock value for its shareholders,” analysts led by Gabriel Barra wrote in a client note.
Vibra also said Augusto Ribeiro will be its new chief financial officer starting on July 3. Ribeiro has been CFO at fintech PicPay since 2021 after serving as CEO of Iochpe-Maxion and CFO of BRF Foods.
Earlier, AES Brasil said Sadock will leave her position on June 30. (Reporting by Peter Frontini and Carolina Pulice; Editing by David Alire Garcia and Christopher Cushing)
Source: https://finance.yahoo.com/news/1-aes-brasil-ceo-quits-003616645.html