The Shareholders’ Meeting, called and held in accordance with the Law 6,404/1976 (Brazilian Corporate Law) and the Company‘s Bylaws, has the power to decide on all matters relating to the Company’s purpose and pass resolutions it deems appropriate to safeguard its interests and development.
The Shareholders’ Meeting is ordinarily held within four months from the end of each fiscal year and extraordinarily whenever the company’s interests require. All the relevant norms and legal provisions should be complied with while calling and holding said meeting.
COPASA’s Board of Directors is a collective decision-making body and is responsible for approving the Company’s policies and general business guidelines, including its long-term strategies. The Board of Directors is composed of a minimum of seven and a maximum of eleven members, of whom one is the Chairman and another is the Vice-Chairman of COPASA’s board, all elected by the Shareholders’ Meeting and dismissible by it at any time.
COPASA’s Board of Directors meets ordinarily once a month and, extraordinarily, whenever necessary, preferably at the Company’s headquarters, and meetings may occur by remote means, in the form of its Bylaws. The meetings shall only be installed with the presence of the majority of its members in office, and any resolution shall be taken by a favorable vote of the majority of the members present, observing the cases of temporary absences and vacancies, under the terms of COPASA’s Bylaws, and the Chairman of the Board of Directors shall have the casting vote.
Below is the current composition of the Board of Directors, whose term of office will expire at the Annual General Meeting (AGM) for the fiscal year 2028:
Gustavo de Oliveira Barbosa
Chairman of the Board
Date of Election: April 30, 2026
Graduated in Accounting from Centro de Ensino Unificado de Brasília – UNICEUB (DF). MBA in Executive Management in Pension Funds from ICAT/AUDF (DF).
Professional Experience: Strategic Advisor to the Deputy Governor of the Minas Gerais State (02/2024 – present). State Secretary of the Minas Gerais State Treasury (01/2019 to 02/2024). Fiscal Council Member of the Development Bank of the Minas Gerais State. Chair of CEMIG’s Fiscal Council.
Carlos Alexandre Jorge da Costa
Independent Board member
Date of Election: April 30, 2026
Graduated in Economics from UERJ, with a Master’s degree and PhD (ABD) from UCLA.
Professional Experience: Partner at bid Capital. He served as Head of the Foreign Representative Office of Brazil’s Ministry of Economy and as Special Secretary for Productivity, Employment, and Competitiveness, where he was responsible for economic and regulatory reforms aimed at improving the business environment, strengthening companies, and promoting the country’s growth. He was also Director of Planning, Products, Credit, and Technology at BNDES; President of the Institute for Performance and Leadership; Executive in Residence at JPMorgan; and a founding partner of Ibmec in São Paulo. He led various studies and research projects in Regulatory Economics, Foreign Investments, and Economic Reforms.
José Alvim Pereira
Employee Representative Board Member
Date of Election: April 30, 2026
Graduated in Civil Engineering from Escola de Engenharia Kennedy and a graduate degree in Sanitary Engineering and Environment from UFMG. Graduated in the Board Member Development Program of Fundação Dom Cabral.
Professional Experience: Manager of the Southeast Expansion Department, Manager of the Central East Department, Manager of the Lagoa Santa District, Manager of the Contagem District, Member of the Board of Directors of COPASA.
José Formoso Martinez
Independent Board Member (Elected by Minority Shareholders)
Date of Election: April 30, 2026
Bachelor’s degree in Engineering and Business Administration.
Professional Experience: Extensive experience in executive and senior management positions at large companies – CEO of Embratel; CEO of Claro. Experience in Boards of Directors: Board member of Brasscom (Associação Brasileira das Empresas de Tecnologia da Informação e Comunicação – Brazilian Association of Information Technology and Communication Companies) and Board member of AMCHAM (American Chamber of Commerce). Certified by IBGC (Instituto Brasileiro de Governança Corporativa – Brazilian Institute of Corporate Governance).
Márcia Fragoso Soares
Vice Chairman of the Board
Date of Election: April 30, 2026
Graduated in Civil Engineering from Faculdades Reunidas Nuno Lisboa, with a specialization degree in Geotechnical Engineering from COPPE UFRJ, an MBA in Business Management from FGV/RJ, and a master’s degree in Transportation Engineering from COPPE UFRJ.
Professional Experience: Professional with more than 35 years of experience in geotechnical engineering and transportation infrastructure, having acted as Director of Projects, Environment and Technological Development at COPASA, Member of the Fiscal Council of Localiza & Co S.A. from May 2023 until May 2024. Executive in medium and large sized companies, such as Arteris S.A. and Invepar S.A. At Autopista Fernão Dias, part of the Arteris group, she has served as Chief Operational Officer as the company´s principal executive. By working together with Pátria Investimentos group as a Consultant, she had direct involvement in the preparation of the group’s winning bid — Lot D, Centro-Oeste Paulista, Entrevias S.A. In the 2019–2021 biennium, she served as Alternate Member of the Board of Directors at Vale S.A.
Marília Carvalho de Melo
Board Member
Date of Election: April 30, 2026
Graduated in Civil Engineering from the Federal University of Minas Gerais (2002), she holds a Master’s degree in Sanitation, Environment, and Water Resources from the Federal University of Minas Gerais (2006), and a PhD in Water Resources from the Civil Engineering Program (PEC) at COPPE/UFRJ – Federal University of Rio de Janeiro (2016).
Professional Experience: She served as Director-General of the Minas Gerais Institute for Water Management; Deputy Secretary, Undersecretary for Inspection, and State Secretary at the Minas Gerais State Secretariat for the Environment and Sustainable Development. She is currently the Coordinator of the professional Master’s program in Environment and Health at the University of Vale do Rio Verde.
Roberto Corrêa Barbuti
Independent Board Member
Date of Election: April 30, 2026
Graduated in Business Administration from EAESP-FGV and Law from USP/São Francisco. MBA from the Institut Européen d’Administration des Affaires – INSEAD.
Professional Experience: Partner at Barbuti Consultoria (current). CEO of Iguá Saneamento (Aug/23 – Aug/25). Chairman of the Board of Abcon (Sep/23 – Jan/25). CEO and board member of Corsan – Cia Riograndense de Saneamento (May/19 – Jun/23). Chairman of the Board of Sulgas-Cia de Gás do Estado do RS (Feb/20 – Feb/22).
Internal Regiment of COPASA’s Board of Executive Officers (approved by the Board of Directors on 22 March 2022)
Click here to view the Internal Regiment
In addition to the Statutory Audit Committee, the Company also has the following non-statutory committees:
- People Management Committee
Click here to view the Internal Regiment - Corporate Governance Committee
Click here to view the Internal Regiment - Investment Comittee
Click here to view the Internal Regiment
The Board of Executive Officers is responsible for the administration of the Company’s corporate affairs and, in the exercise of this function, must comply with and enforce the laws, the Bylaws, the resolutions of the Shareholders’ Meetings and of the Board of Directors, its Internal Regiment and good practices of corporate governance, for the benefit of the Company and of the public interest that justified its creation.
The Executive Board shall be comprised of at least three and at most five members, being a Chief Executive Officer and a Chief Financial and Investor Relations Officer, elected by the Board of Directors, who shall define its areas of operation and attributions.
COPASA’s Board of Executive Officers meets, ordinarily, once every week, and extraordinarily as often as business may require. The meetings are called by the Chief Executive Officer at least two days in advance. The meetings are convened only upon attendance by a majority of its members in office, and presided by the CEO. The resolutions are taken by a majority vote of attending Officers, and, in case of a draw, the CEO has the casting vote.
The current composition of the Executive Board, whose term of office will expire on the date of the first meeting of the Board of Directors to be held after the Annual General Meeting (AGM) for fiscal year 2027:
Marília Carvalho de Melo
Chief Executive Officer
Date of Election: 24 December 2025
Graduated in Civil Engineering from the Federal University of Minas Gerais (2002), she holds a Master’s degree in Sanitation, Environment, and Water Resources from the Federal University of Minas Gerais (2006), and a PhD in Water Resources from the Civil Engineering Program (PEC) at COPPE/UFRJ – Federal University of Rio de Janeiro (2016).
Professional Experience: She served as Director-General of the Minas Gerais Institute for Water Management; Deputy Secretary, Undersecretary for Inspection, and State Secretary at the Minas Gerais State Secretariat for the Environment and Sustainable Development. She is currently the Coordinator of the professional Master’s program in Environment and Health at the University of Vale do Rio Verde.
Adriano Rudek de Moura
Chief Financial and Investor Relations Officer
Date of Election: 30 April 2025
Graduated in Accounting Sciences. Postgraduate degree in Finance and Controllership (MBA Controller), with specialization courses in Management, Leadership, Strategy, Capital Markets and Governance.
Professional Experience: Vice President of Finance and Investor Relations of Electrolux América Latina (2003 to 2017). CFO and IR at Companhia Paranaense de Energia – Copel and subsidiaries (2017 to 2024) and CFO and IRO of COPASA (to date). Academic experience as a professor and speaker in undergraduate and postgraduate courses.
Cleyson Jacomini de Sousa
Chief Customer, Communication and Sustainability Officer
Date of Election: 30 April 2025
Graduated in Business Administration from Pontifícia Universidade Católica de Minas Gerais (PUC MG). MBA in Strategic Business Management from Federal University of Minas Gerais (UFMG). Postgraduated in Management Development from Fundação Dom Cabral. Postgraduated in Basic and Environmental Sanitation Engineering from– Inbec/– UNIP.
Professional Experience: Director of Customer, Communication and Sustainability at COPASA (February 2023 to present). Managing Director at Águas do Rio SPE (July 2021 to September 2022) and Chief Executive Officer of Concessionaire Águas de Teresina SPE (November 2018 to August 2022).
Laura Petri Geraldino
Chief Operating Officer
Date of Election: 17 September 2025
She earned an undergraduate degree in Civil Engineering for the Pontifícia Universidade Católica de Campinas – PUCCAMP, a specialist degree in Environmental Management, and an MBA in Strategic Innovation, Leadership and Organizational Management.
Professional Experience: She is a specialist in Environmental Management from the University of Campinas – UNICAMP (2003) and holds a bachelor’s degree in Civil Engineering from the Pontifical Catholic University of Campinas – PUCCAMP (1998). Throughout his professional career, she worked at CASAL – Companhia de Saneamento de Alagoas as Vice President of Operations from June 2022 to September 2025, having previously served as Advisor to the Vice Presidency of Operations from February 2021 to May 2022. She also served on the Fiscal Council of Desenvolve Alagoas from September 2023 to May 2025. Within municipal public administration, she was Superintendent of SAAE Amparo-SP – Serviço Autônomo de Água e Esgotos, from January 2017 to December 2020. In parallel, she has been a co-owner of PETRI Consultoria since January 2017.
Pablo Ferraço Andreão
Chief of Engineering and Environment Officer
Date of Election: 30 April 2025
Holds a degree in Civil Engineering from Universidade Federal do Espírito Santo, a master’s degree in Business Administration from Fundação Getulio Vargas. MBA in Business Management, and a post-MBA in Business Intelligence from Fundação Getulio Vargas.
Professional Experience: Executive with over 25 years of experience in infrastructure and utility business, with experience in the private sector, public-private partnerships, and the public sector in various business models (state-owned companies, municipal entities, full or partial concessions, and administrative and sponsored PPPs). He acted as CEO of Saneatins-TO, CEO and Engineering and Environment Officer at Cesan-ES, and Vice-President of Operations at BRK Ambiental-SP. He was also a Board of Directors member of Cesan-ES, Viasolo Ambiental-MG, BRK Goiás, BRK Recife, and Saneatins-TO. Since December 2023, he has been the Director of Engineering and Environment at COPASA MG (reporting to the CEO), responsible for the investment program, including all project phases to the assisted operation stage. He is also responsible for the areas of engineering design, quality control, environment, licensing, innovation, water loss reduction, asset management, and CAPEX planning. From November 2020 to August 2023, he served as Director of Engineering and Environment at CESAN ES (reporting to the CEO), where he was responsible for the investment program, including all project phases through to the assisted operation stage.
Internal Regiment of COPASA’s Board of Executive Officers (approved by the Board of Directors on 30 June 2022)
Click here to view the Internal Regiment
The Fiscal Board shall function permanently and consists of three to five members, one of whom shall be its Chairman and another Vice-Chairman, and an equal number of alternates, all elected by the Shareholders’ Meeting.
The list of the Fiscal Board effectives and alternate members, whose term of office will end on the date of the Annual Shareholders Meeting (ASM) of 2028, is presented below:
Fiscal Board Members – Effective:
Felipe Magno Parreiras de Sousa
Chairman of the Board
Date of Election: April 30, 2026
Holds an undergraduate degree in Public Finance from Fundação João Pinheiro, and a specialist degree in Strategic Management from Fundação João Pinheiro.
Professional Experience:
In the State of Minas Gerais, he has served since January 2019 as Undersecretary of Planning and Budget. Previously, he held the position of Central Superintendent of Planning and Budget Programming at the State Secretariat for Planning and Management from 2017 to 2019, and also served as Central Director for Monitoring Physical and Budget Execution at the same Secretariat from 2012 to 2017. Between 2010 and 2012, he worked as a technical specialist in the Central Board of Planning, Programming and Standards of the State Secretariat for Planning and Management. At Minas Gerais Administração e Serviços S.A. (MGS), he served as a member of the Board of Directors from 2020 to 2024 and, previously, as a member of the Fiscal Council from 2019 to 2020. At Minas Gerais Participações S.A., he held the position of member of the Board of Directors from 2022 to 2024. He has been a member of the Fiscal Council of COPASA MG since July 2024.
Fábio Baccheretti Vitor
Vice Chairman of the Board
Date of Election: April 30, 2026
Degree in Medicine.
Professional Experience: Secretary of State of Health of Minas Gerais (2021 – present). President of CONASS (2023 – 2025) and Vice President (2022 – 2023). President of FHEMIG (2019 – 2021). Physician – Santa Casa de Misericórdia de BH (2017 – present). Physician – DOPSOM – Diagnostic Imaging (2022 – present). Board member of GASMIG (2021 – 2024), Santo Antônio Energia S.A. (2021 – 2023), and Companhia Brasileira de Lítio (2021 – 2022).
Reges Moisés dos Santos
Date of Election: April 30, 2026
Graduated in Law from Universidade do Estado do Rio de Janeiro and a graduate degree in Social Security Law from Universidade Gama Filho / Instituto Brasileiro de Pesquisa e Capacitação.
Professional Experience: Chief of Staff of SEF/MG since April 2021; Special Advisor of SEF/MG, from October 2019 to April 2021; Corporate Governance Manager of Rioprevidência, from January 2019 to August 2019; CEO of Rioprevidência, from July 2016 to December 2018; Director of Security of Rioprevidência, from February 2015 to July 2016.
Fiscal Board Members – Alternate:
Cláudio Politi
Date of Election: April 30, 2026
Holds a degree in Electric Engineering from UFRJ, a postgraduate degree in Marketing Administration from FGV and is a Trained Board Member by FDC.
Professional Experience: Managing Partner and Chairman of the Board of Ablsan, a company focused on the development of commercial and retail ventures, and in concessions for bus and subway terminals. CO-CEO of Construtora Ferraz Bueno, a company focused on the development of affordable real estate developments such as Minha Casa Minha Vida.
Juliano Fisicaro Borges
Date of Election: April 30, 2026
Graduated in Economics from PUC Minas, a graduate degree in Budget and Public Finance from the Fundação João Pinheiro and a Master’s degree in Public Administration from the Fundação João Pinheiro.
Professional Experience: He served as an Economic Technical Advisor and Chief Planning and Coordination Advisor at the State Government’s SEPLAN between 2000 and 2002, and as a Central Superintendent of General Coordination at the State Government’s SEPLAG between 2003 and 2004. From 2005 and 2007, he served as Central Superintendent of Management Audit at the State Audit Office of Minas Gerais. Between 2007 and 2014, he was a Deputy Secretary of State for Social Development, serving as Deputy Controller General of the State of Minas Gerais in 2011. He also worked as a Chief of Staff in the Governor’s Office of the State of Minas Gerais in 2019, and from 2020 to 2022, he served as Chief of Staff of the State Government. He was Secretary of State for the State of Minas Gerais (2020 to 2022) and Deputy Secretary of State for Government (2023). He currently works in the Special Advisory Office of the Vice-Governor in the Secretary-General. He held the position of Deputy Secretary of the Civil House in 2024 and currently serves as Deputy Secretary of Government.Juliano also worked as a professor at various higher education institutions like the Fundação João Pinheiro, UNA, UEMG, PUC Minas e FUPAC.
Marco Antônio Mendonça Gaspar
Date of Election: April 30, 2026
Bachelor’s degree in Mechanical Engineering.
Professional Experience: State Secretariat for Economic Development – Deputy Secretary for Economic Freedom and Entrepreneurship, since January 2026. Superintendent of Micro and Small Businesses (September 2023 – December 2025). Director of Local Development Projects (June 2021 – September 2023). State Secretariat for Health – advisor to the Office of the Secretary (January 2021 – April 2021). Câmara de Dirigentes Lojistas de Belo Horizonte (Belo Horizonte Chamber of Shopkeepers) – Vice President for Business Promotion (since January 2019).
Internal Regiment of COPASA’s Fiscal Board (approved by the Fiscal Board on 30 August 2023)
Click here to view the Internal Regiment
Committee of advisory functions directly connected to the Board of Directors, and elected by that Board. Composed at least 3 (three) and at most 5 (five) members, the majority must be independent, and at least one councilor shall be independent member of the Board of Directors.
The terms shall be of three years and the end shall not be at the same year, and one reelection is allowed. The term of office of the member of COAUDI that is part of the Board of Directors shall be limited to its term of office in that Board. Meetings should take place when necessary, at least bimonthly.
The current composition of the Statutory Audit Committee is presented below.
Roberto Corrêa Barbuti
Committee Coordinator
Date of Election: 06 May 2026
Bachelor’s degree in Business Administration from EAESP-FGV and in Law from USP/São Francisco. MBA from the Institut Européen d’Administration des Affaires (European Institute of Business Administration) – INSEAD.
Professional Experience: Partner at Barbuti Consulting (current). CEO of Iguá Saneamento (Aug/23 – Aug/25). Chairman of the Board of Abcon (Sep/23 – Jan/25). CEO and Board Member of Corsan – Companhia Riograndense de Saneamento (May/19 – Jun/23). Chairman of the Board of Sulgás – Rio Grande do Sul State Gas Company (Feb/20 – Feb/22).
Brenda Felicia Viera da Silveira
Committee Member
Date of Election: 31 July 2025
Accountant. Master Studies in Law (MsL) in Anti-Corruption Global Corporate Compliance – IE Law School (Madri/Spain) and International Anti-Corruption Academy Summer Program (Laxenburg, Austria). Certified by Society of Corporate Compliance and Ethics – CEEP-I (Certified Compliance & Ethics).
Professional Experience: Director of Compliance Latam, responsible for the Integrity Program in a Mining Company, responsible for managing and maintaining an effective Compliance program and a complaint management system. Professional with experience in External Audit, Internal Controls (including Sarbanes Oxley), Anti-Corruption Compliance and Anti-bribery and Forensic Investigation. 16 years of experience at the consulting company EY (including 18 months at EY United States), with 7 years dedicated to Compliance/Integrity and Forensic Investigation (FCPA, UK Bribery Act and Brazilian anticorruption legislation) – working with global and local law firms providing forensic investigation services and conducting projects related to Anti-corruption and Anti-bribery Compliance risk assessment, forensic investigation, design/review compliance policies and procedures, third party risk management (including third party Due Diligence) and conducting Anti-bribery and Anti-corruption Due Diligence in acquisitions. Elected as a member of COPASA MG’s Audit Committee (COAUDI) on July 31, 2025.
Roberto Tommasetti
Committee Member
Date of Election: 26 June 2024
Graduated in Accounting and Economics. Master and Doctor in Accounting Sciences.
Professional Experience: IProfessor in graduate and postgraduate programs at UFRJ, author of numerous scientific articles in the fields of corporate governance, accounting and auditing. Currently serves as a member of the Audit Committee of COPASA and CAERD, and as a substitute member of the Fiscal Council of GRU Airport. Previously served on the Audit Committees of Grupo Cemig, Gasmig, and Rede Mater Dei, where he also worked as a Fiscal Council member. Internationally, he served on the Audit Committee of Airport Company South Africa (ACSA) and was an substitute member of the Director´s Board of ACSA, Aeroporto di Siena, and Truestargroup. He has 30 years of professional experience as an auditor at PwC and in executive leadership roles as Chief Controller (Aeroporti di Roma and Cementir Italia) and CFO (Order of Malta Italy and Truestargroup).
Internal Regiment of COPASA’s Statutory Audit Committee Board (approved by the Board of Directors on April 24, 2024)
Click here to view the Internal Regiment.
Complaints to COAUDI, regarding matters related to the scope of its activities, can be sent to the following email address: denuncia.coaudi@copasa.com.br.