Cemig announces new leadership, appointing Marco Aurélio Vasconcelos as CEO and Alexandre Ramos to the Board of Directors. The move comes amid an ongoing audit of Cemig SIM.
Leadership at Cemig, one of Brazil’s largest power sector companies, has undergone a significant reconfiguration.
The company has elected Marco Aurélio Martins da Costa Vasconcelos as its new CEO and Alexandre Ramos Peixoto as the Chairman of the Board of Directors.
These decisions were formalized and approved by the state-owned company’s board last Friday, September 11, according to an official statement.
The appointment of Marco Aurélio Vasconcelos to the executive leadership represents a shift from previous expectations.
The government of Minas Gerais, the company’s primary controlling shareholder, had previously nominated a different candidate for the role.
The changes in Cemig‘s top management occur during a period of intense scrutiny regarding its subsidiary Cemig SIM, which operates in the promising distributed generation segment.
New Leadership for the State-Owned Company
The election of Marco Aurélio Vasconcelos as CEO marks a new chapter for Cemig.
With a law degree from PUC Minas and specializations in corporate law, the executive brings a robust professional background.
His experience spans legal, management, and public administration spheres, with tenures in sectors such as sanitation, mining, industry, and the government of Minas Gerais itself.
Vasconcelos arrives at Cemig after serving at Copasa, the water and sanitation company privatized by the state government in June of this year.
At Copasa, he held critical roles, including General Counsel and advisor to the presidency, and most recently, since 2022, as Deputy Legal Director, with a focus on corporate governance, regulation, and business development.
Alexandre Ramos Takes the Board During Restructuring
In parallel, Alexandre Ramos Peixoto, who had served as Cemig‘s CEO and Director of Regulation and Institutional Relations since May, now assumes the Chairmanship of the Board of Directors. This transition confirms an appointment already expected by the controlling shareholder.
Ramos is an engineer with a long career at Cemig and extensive experience in the power sector.
His resume includes roles at major regulatory and planning institutions, such as the National Electric Energy Agency (Aneel), the Ministry of Mines and Energy (MME), and the Energy Research Office (EPE).
Since 2023, he has also chaired the board of the Electric Energy Commercialization Chamber (CCEE).
Focus on Cemig SIM and Transparency
The leadership reshuffle at Cemig is intrinsically linked to the need for greater scrutiny of Cemig SIM, the state-owned company’s arm dedicated to distributed micro and minigeneration (MMGD).
The Governor of Minas Gerais, Mateus Simões (PSD), had previously announced that Alexandre Ramos and Cemig‘s Legal Vice President, Sérgio Pessoa de Paula Castro, would be reassigned to that subsidiary.
At the time, the governor emphasized the importance of a deep-dive analysis.
“The executives were tasked with investigating the subsidiary’s operations, with the governor advocating for a complete, executive, and definitive audit of the company.”
This strategic move comes just weeks after the dismissal of Cemig SIM’s commercial director, Rubens Soalheiro.
Soalheiro was being investigated for alleged involvement in operations with Banco Master, linked to Daniel Vorcaro, and Green Investimentos, presided over by Felipe Cançado Vorcaro, Daniel’s cousin.
Cemig has publicly clarified that it no longer maintains commercial relationships with Green Investimentos.
The new appointments promise to bring fresh momentum while initiating a rigorous review process for Cemig.
The expectation is that Marco Aurélio Vasconcelos‘s executive experience and profile, combined with Alexandre Ramos‘s vision on the Board of Directors, will strengthen the company’s corporate governance.
In a landscape of growing challenges and opportunities in the energy transition, transparency and management efficiency—especially in the clean and sustainable energy segment of distributed generation—will be crucial for the future of Cemig.
