Breaking: Pedro Zinner will Drive the Stone
Pedro Zinner will take over as CEO of Stone in the coming months, replacing Thiago Piao, who is going to the board, as well as this issue. Zenner quit Eneva executives unexpectedly on Tuesday night after six years, leading to speculation he would take charge of Vibra Energia. It will start from stone at the time before the end of March – the deadline that will allow the two companies to regulate the transition.
In Eneva, Lino Lopes Cançado, the CEO of the CEO, should be upgraded at least temporarily, although shareholders have not yet discussed the matter, according to sources with knowledge of the Brazil Journal issue. Lino was 16 from Schlipperger, Lino at Eneva for eight years, having started at Parnaíba Natural Gas, the company that preceded Eneva.
The new position is an endless professional transformation of Zinner – an executive civil servant trained in heavy industries, with stints in BG Group and Vale before Eneva. When Zenner took over the business, the question was whether Eneva had enough gas to honor its long-term contracts, signed when Eike Batista was still in control.
His administration was characterized by exploratory campaigns that increased the company’s gas reserves three times. When Eneva went from a state of surplus gas deficit, Zinner showed creativity in developing a solution to supply power in the isolated Roraima system – including transporting gas in a refrigerated trailer to over 1000 km in the heart of the Amazon – with LNG closing contracts with Vale Vale and Susano, the first time that Eneva has managed to liquefy its molecule without being in the production of energy.
But Zenner has always been balancing the often conflicting interests of the company’s largest shareholders – Cambuhy and BTG Pacual – who almost have risk characteristics. After Eneva’s latest capital increase last month, Cambuhy now owns 20% of the company and BTG 24%. Dynamo, Atmos and Velt have around 17% of the capital under the long-term shareholders’ agreement.
One of the people who know the company said: “The culture of entrepreneurship was made with blood in the eyes and very creative people.” “Now they bring more about organization, planning and charging, a driver with white hair – in his case, no hair.” Zenner took a seat on Stone’s board in March this year, an announcement to take on the company’s largest shareholder.
Piau, who has been in charge of Stone since the end of 2017, led the company from 5% to 11% of the market share, Credit Business developed and made the company’s highest purchase and the purchase of Linx. But Stone has seen its market value explode when very rapid credit expansion generates large losses and the acquisition of Linx has taken Cade and the synergy has not yet been implemented. Stone today is worth $3.7 billion on the Nasdak Stock Exchange. The newspaper runs at $11.82, an increase of more than 12% in New York.
