# EXCLUSIVE: IG4 Sets Braskem’s New Leadership as Control Transfer Nears

*Tokeshi to become CEO as Petrobras advances Luiz Valente for an executive role; Paulo Mattos expected to join the board as Roberto Ramos exits, closing the Odebrecht era.*

- Published: 2025-12-03
- Updated: 2025-12-04
- Section: Insights
- Tags: blue chip, Braskem, Brazil M&A, corporate governance, Hélcio Tokeshi, IG4 Capital, Luiz Valente, Novonor, Paulo Mattos, Petrobras, Petrochemicals
- URL: https://brazilstockguide.com/insights/exclusive-ig4-braskem-new-leadership-control-transfer/

**By Brazil Stock Guide –** **IG4 Capital**, which represents Braskem’s creditor banks — **Itaú, Bradesco, Santander, Banco do Brasil and BNDES** — is still awaiting the conclusion of the control-transfer process, expected in the coming weeks, but is already shaping the petrochemical group’s future leadership structure. According to reporting by *Brazil Stock Guide*, economist **Hélcio Tokeshi** is expected to become the company’s next CEO once the transaction is completed, while **Petrobras** is preparing to nominate veteran executive **Luiz Valente** for one of the executive vice presidencies. IG4’s co-founder and CEO, **Paulo Mattos**, is also expected to take a seat on the board of directors.

### **Mandate of the creditors**

The early definition of key names reflects the mandate granted by the creditor group for IG4 to lead Braskem’s restructuring as **Novonor (formerly Odebrecht)** — still the controlling shareholder — prepares to become a residual shareholder once the deal is finalized. The alignment among the banks, after years of shareholder deadlock, points toward a redesign of governance, stricter capital discipline and a strategic plan capable of repositioning the company in a sector marked by volatility and compressed margins.

### **Tokeshi at the helm**

A partner at IG4 since 2019, **Hélcio Tokeshi** has built a career that spans infrastructure, private equity, economic policy and public administration. He is currently CEO of **CLI – Corredor Logística e Infraestrutura**, a research associate at **FGV IBRE**, and a participant in OECD business-governance initiatives, in addition to serving on boards within the **Opy Health** group.

In government, Tokeshi was appointed by then–São Paulo governor **Geraldo Alckmin** to lead the state’s **Finance Secretariat** in 2016. Before that, he served as **Secretary for Economic Monitoring (SEAE)** at Brazil’s Ministry of Finance in 2004, under Antonio Palocci. In the private sector, he was a partner at **McKinsey & Co.**, focusing on electric power, oil and gas, and large-scale infrastructure projects.

His selection signals IG4’s intention to move quickly with its reorganization plan once the transaction is formalized.

### **Petrobras’ nomination**

**Petrobras**, a significant shareholder and Braskem’s main feedstock supplier, is expected to nominate **Luiz Valente** for one of the executive vice presidencies in the post-transaction structure. Currently a full board member, Valente has held key roles across Petrobras’ refining, logistics and petrochemical operations — and at Braskem itself, where he oversaw development of the **Comperj** petrochemical unit.

![](https://i0.wp.com/brazilstockguide.com/wp-content/uploads/2025/11/Braskem-petrochemical-chemical.png?resize=1024%2C683&ssl=1)

### **Mattos on the board**

IG4 co-founder **Paulo Mattos** is expected to join the board and play a central role in integrating the company’s new governance structure. Having led the negotiations with the creditor banks, Mattos will be instrumental in defining Braskem’s strategic plan, deleveraging agenda and governance overhaul.

### **Ramos’ departure**

The transition also marks the exit of Braskem’s current president, **Roberto Ramos**, appointed by the Odebrecht family to steer the company through the final phase of Novonor’s exit process as the two sides work toward completing the transaction. Braskem faces years of weakened competitiveness, a prolonged petrochemical downturn and the legal and environmental fallout from the salt-mining–related ground subsidence in Alagoas. Ramos’ departure brings the Odebrecht chapter in the company’s leadership to a close.

After publication, **IG4 Capital** told *Brazil Stock Guide* that negotiations with Novonor’s creditors, with Novonor itself and with Petrobras regarding Braskem have not been concluded, adding that **“any statement about potential executive appointments is premature”** and that the firm does not comment on market speculation.

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Source: Brazil Stock Guide, https://brazilstockguide.com/insights/exclusive-ig4-braskem-new-leadership-control-transfer/