Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Petrobras Creates Special Committee Amid Corruption Probe

Scuttlebutt | December 24, 2014

The board of Brazilian state-owned oil giant Petrobras has created a special committee whose function will be to oversee an existing independent internal investigation amid widespread bribery allegations.

The committee will consist of three people and serve as a reporting line for independent internal investigation firms Brazil-based Trench, Rossi e Watanabe, U.S-based Gibson, Dunn & Crutcher. The three people on the commitee are Ellen Gracie Northfleet, former president of Brazil's Supreme Court; Andreas Pohlmann, former chief compliance officer of Siemens AG; and Petrobras' chief of compliance, risk and governance, a newly-created role to which nobody has been named yet.

"This committee will act independently and will have a direct reporting line with the board of directors," the company said.

The special...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.