Board Resignations
Peruvian state oil company Petroperu announced on Saturday that it accepted the immediate resignations of four board members, including Chairman Fidel Augusto Moreno Rodriguez, David Quispe Figueroa, Jose Luis Carlos Balta Chirinos, and Cesar Rodriguez Villanueva.

New Appointments
Following the resignations, Petroperu appointed a new chairman, Luis Alberto Canales Galvez, along with three additional directors: Elba Rosa Rojas Alvarez de Mares, Jesus Valentin Ramirez Gutierrez, and Oscar Gerardo Zapata Alcazar.

Legal Framework
The board changes were implemented under Law 32103 and Emergency Decree 004-2024, which allow for immediate board recomposition and waive standard selection procedures.

Next Steps
Shareholders will determine at a future meeting whether the newly appointed members meet the criteria to serve as “independent directors.”