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.
