Braskem announces the nomination of Carlos José Fadigas de Souza Filho as vice-president of Finance and Investor Relations starting January 2007. He will replace Paul Altit, who will assume new responsibilities at Construtora Norberto Odebrecht - CNO. Altit played a prominent role in an important cycle in Braskem’s trajectory, which led to the strengthening of the company’s equity and financial structure and to the conclusion of its shareholder integration process.

Fadigas, 36 years of age, has a Bachelor’s Degree in Business Administration from Unifacs in Bahia and a Master’s in Business Administration from the Institute for Management Development - IMD in Switzerland. He began his career at Citibank in 1990, and then held important positions at OPP and Trikem, companies later incorporated by Braskem. After 2002, he became responsible for the financial area at CNO, where he operated in large capital market events with international exposure.

The nomination of Fadigas is in line with the company’s guideline to value its best talents in the natural renewal process of its main leaderships. "Fadigas adds experience to the financial and petrochemical area with knowledge of the international market, and he will provide a large contribution to drive the growth process by creating value in the company, accelerating its internationalization process," affirms José Carlos Grubisich, Braskem president. "He will have the mission to give continuity to the excellent job developed by Paul Altit, known throughout the financial sector and who was decisive for Braskem´s consolidation as a world class company," said Grubisich.

The commitment to the creation of value for all shareholders, focusing on increased strategic flexibility and capital cost reductions, is the priority confirmed by Braskem´s financial management. "The company’s growth strategy will continue to be based on a consistent investment policy combined with capital discipline, aimed at the return on engagement," said Fadigas.